When Frankie Spends All His Money in Such a Way

question 339

Multiple Choice

When Frankie spends all his money in such a way that the marginal utility per dollar is the same for all final purchases of products he consumes, Frankie has maximized

• A) his marginal utility.
• B) his total utility.
• C) the number of products he consumes.
• D) his total expenditure on all products.

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Definitions:

Average Cheque

The average amount of money received or paid in transactions, commonly used in banking and retail settings.

Mail Delivery

The system of transporting and distributing letters and packages from senders to recipients.

Processing Time

The amount of time taken to complete a particular process, task, or operation.

Same Day Value

Bank makes proceeds of cheques deposited available the same day before cheques clear.