Which of the Following Statements Is True About Individuals and Utility

question 124

Multiple Choice

Which of the following statements is true about individuals and utility?

• A) Individuals seek to maximize utility.
• B) Individuals seek to maximize their income, not utility.
• C) Individuals will either minimize or maximize utility depending on the situation.
• D) Individuals rarely try to maximize their utility.

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Definitions:

Dissolution

The formal disbanding of a partnership or a corporation.

Multiple Times

Occurring or being done many times.

Certain Age

A specific point in time or stage of life that is significant legally, culturally, or socially, often referencing eligibility for certain rights, responsibilities, or benefits.

Unmarried

The state of not being legally joined to another person in a marriage.