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:

Production Team

A group of individuals who work together in a specific stage of the production process to create a product or provide a service.

Job Enlargement

The process of making a job more varied by adding more tasks of similar complexity to an employee's responsibilities.

Efficiency

The ability to accomplish a task or goal with minimum waste of resources, including time, energy, or materials.

Decision-making

The cognitive process of selecting a course of action from among multiple alternatives, often leading to a final choice.