Ricky Is in a Consumer Equilibrium

question 142

Multiple Choice

Ricky is in a consumer equilibrium. Given the prices of goods, Ricky has allocated all his income such that his marginal utility per dollar spent is ________ for ________ goods.

• A) as small as possible; all
• B) equal; all
• C) equal; normal
• D) maximized; all

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Definitions:

GEO

An abbreviation for Geostationary Orbit, a circular orbit 35,786 kilometers above the Earth's equator and following the direction of the Earth's rotation.

LEO

Low Earth Orbit, a satellite system orbiting relatively close to Earth, often used for telecommunications, military, and observation purposes.

Footprint

In a technological context, the term often refers to the amount of space occupied by a device, or the environmental impact of producing and disposing of it.

GEO

A Geostationary Earth Orbit is a circular path located 35,786 kilometers directly above the Earth's equator, moving in the same direction as the Earth rotates.