The Consumer Maximizes His Total Utility (Measured in Money Terms)

question 140

Multiple Choice

The consumer maximizes his total utility (measured in money terms) when, at his chosen quantity of every good he buys, marginal utility

• A)equals zero.
• B)divided by price equals zero.
• C)equals price.
• D)equals total utility.

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Definitions:

Intervention

The act of interfering in a situation, often to improve or prevent a process or behavior.

Type and Quality

Categories or varieties of something along with their characteristics or excellence assessed according to specific standards.

Macro-level Changes

Significant alterations in the structure or functioning of a society, organization, or system, often resulting from policy, social, or environmental factors.

Income Bracket

A range of income that is used to categorize households or individuals for the purpose of taxation or statistical analysis.