A Consumer Was at an Optimum

question 254

Multiple Choice

A consumer was at an optimum. She then discovers that the marginal utility per dollar spent on food is more than the marginal utility per dollar spent on gasoline. She knows then that

• A) the price of gasoline must have decreased.
• B) the price of food must have increased.
• C) the price of gasoline must have increased or the price of food must have decreased.
• D) the price of gasoline must have decreased or the price of food must have increased.

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Definitions:

Written Instructions

Detailed guidelines or steps written down to explain how to perform a task or procedure.

Powerful Tool

A highly effective resource or device that can significantly influence outcomes or facilitate tasks.

Email

A method of exchanging digital messages across the Internet or other computer networks, utilizing a standardized protocol.

Productivity

The amount of work accomplished in a period of time.