If a Rational Consumer Is in Equilibrium, Which of the Following

question 2

Multiple Choice

If a rational consumer is in equilibrium, which of the following conditions will hold true?

• A)MU a = MU b = MU c = . . . = MU n.
• B)The marginal utility of each good purchased will be zero.
• C)The marginal utility of the last dollar spent on each good purchased will be the same.
• D)The total utility obtained from each good purchased will be the same.

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Definitions:

Maturity Principle

The concept that individuals become more conscientious, agreeable, and emotionally stable as they age.

Experience

Experience refers to the knowledge or skill acquired by observing, encountering, or undergoing events or situations.

Skills

The ability to do something well, usually gained through training or experience.