Consumers Should Allocate Their Income So That the Marginal Utility

question 57

Multiple Choice

Consumers should allocate their income so that the marginal utility associated with the:

• A)first dollar spent is equal for all goods.
• B)last dollar spent is equal for all goods.
• C)last dollar spent is lower for high-priced items than for lower- priced items.
• D)first dollar spent is greater for high-priced items than for lower-priced items.
• E)first dollar spent is less for high-priced items than for lower-priced items.

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Definitions:

Cardiovascular Disease

A broad term for disorders of the heart and blood vessels, such as coronary artery disease, which can lead to heart attacks and strokes.

Coronary Bypass Surgery

A surgical procedure used to treat coronary artery disease by creating new routes around narrowed or blocked arteries to improve blood flow to the heart muscle.

Cancer Risk

The probability of developing cancer, influenced by genetic, environmental, and lifestyle factors.

Hypertension

A chronic medical condition where blood pressure in the arteries is persistently elevated, also known as high blood pressure.