With a Given Income and Prices of Goods, Marcus Will

question 184

Multiple Choice

With a given income and prices of goods, Marcus will be in a consumer equilibrium if

• A) his marginal utility from all goods is the same.
• B) he purchases the same amounts of all goods.
• C) he maximizes his total utility.
• D) his marginal utility from all goods is at its maximum.

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Definitions:

Teleological Metaphysics

The branch of metaphysics that deals with the study of purpose, design, and goals within the universe, often involving the idea that natural processes aim towards certain ends.

Mechanistic Metaphysics

A philosophical viewpoint that regards natural processes as mechanically determined and capable of explanation by laws of physics and chemistry.

Non-teleological

Pertaining to theories or viewpoints that reject the existence of ultimate purposes or ends in natural phenomena or human activities.

Substance Interaction

The notion in philosophy that distinct substances (such as mind and body) have causal relations or can affect each other.