A Consumer Is Maximizing Her Utility with a Particular Money

question 289

Multiple Choice

A consumer is maximizing her utility with a particular money income when

• A)the total utility derived from each product consumed is the same.
• B)MU a/ Pₐ = MU b/ Pᵦ = MU c/ P_c = . . . = MU n/ Pₙ .
• C)MU a = MU b = MU c = . . . = MU n.
• D)Pₐ = Pᵦ = P_c = . . . = Pₙ .

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Definitions:

Mediation

A conflict resolution process involving a neutral third-party who helps disputing parties find a mutually acceptable solution without making decisions for them.

Railway Labor Act

A U.S. federal law originally passed in 1926 that governs labor relations in the railway and airline industries.

Med-arb

A hybrid dispute resolution process combining mediation and arbitration where unresolved issues in the mediation phase are arbitrated.

Chilling Effect

A situation where speech or conduct is suppressed by fear of penalization at the interests of those who have the power to penalize.