At All Points on a Demand Curve,the

question 173

Multiple Choice

At all points on a demand curve,the
i.consumer's budget has been allocated to maximize total utility.
ii.quantity is the quantity demanded at each price when total utility is maximized.
iii.price represents the marginal benefit the consumer gets from an extra unit of a good.

• A) i only
• B) ii only
• C) i and ii
• D) i and iii
• E) i, ii, and iii