If All Consumers in an Economy Have Maximized Their Utility,and

question 54

Multiple Choice

If all consumers in an economy have maximized their utility,and they face a given set of market prices,then each consumer will have identical

• A)total utilities for each good.
• B)marginal utilities for each good.
• C)marginal utilities per unit of each good.
• D)ratios of marginal utility to price for each good.
• E)consumption of each good.

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Definitions:

Outlived Usefulness

Refers to an asset or item that has exceeded its functional or strategic value to an organization or individual.

Aging Accounts Receivable

A method of managing accounts receivable by categorizing them according to the length of time an invoice has been outstanding.

Present Value

The current value of a future amount of money or stream of cash flows, given a specified rate of return.

Effect On Sales

The impact or change in the volume of sales as a result of a specific action or market condition.