Which of the Following Statements Is True When the Consumer

question 18

Multiple Choice

Which of the following statements is true when the consumer is in utility-maximizing equilibrium?

• A)The number of units of each good purchased is equal.
• B)The prices of the goods in question must be equal.
• C)The total benefits the consumer receives from every good consumed must be the same for all goods.
• D)The rate at which the consumer is willing to trade one good for another is equal to the ratio of their market prices.

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Definitions:

Contrast

The state of being strikingly different from something else in juxtaposition or close association, emphasizing differences between two or more items.

Criteria

Standards or principles by which something may be judged or decided.

Dealership

A business establishment authorized by a manufacturer to sell its products, typically referring to automotive vehicles.

Perception Influences

Factors that can alter or shape the way individuals interpret or conceive their external environment and internal states.