A Consumer Is in Equilibrium When

question 27

Multiple Choice

A consumer is in equilibrium when

• A) total utility can be increased only by reallocating his or her money income.
• B) the marginal utility for each commodity consumed is equal.
• C) all of his or her income has been spent on goods and services.
• D) any other allocation of his or her income among the commodities consumed leads only to a reduction in total utility.
• E) the total utility received from all commodities is the same.

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