Total Utility Is Maximized When a Consumer Has Spent All

question 212

Multiple Choice

Total utility is maximized when a consumer has spent all of his or her income and

• A) spent equal amounts on all goods.
• B) marginal utility is maximized.
• C) the total utility per dollar from all goods is equal.
• D) the marginal utility per dollar from all goods is equal.

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Definitions:

Increase Decimal

A function in spreadsheet software that allows the user to display more decimals for numerical entries, providing greater precision.

Background Color

The color filling the back area of a document, webpage, or application interface, behind all text, images, or objects.

Conditional Formatting

A feature in data visualization and spreadsheet software that changes the appearance of cells based on certain conditions, making it easier to visually assess data.

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Conventions for representing dates in writing, which vary widely around the world, typically including day, month, and year in various orders.