When a Consumer Has Maximized Total Utility, He or She

question 260

True/False

When a consumer has maximized total utility, he or she cannot increase total utility by reallocating expenditures among different products.

---

Definitions:

Primary Data

This is data collected directly from its source for the first time, used for a specific research purpose.

Marketing Information System

A system that gathers, analyzes, and disseminates data relevant to a company’s marketing activities.

Demographic Segmentation

Dividing markets on the basis of various demographic or socioeconomic characteristics such as gender, age, income, occupation, household size, stage in family life cycle, education, or ethnic group.

Ethnic Group

A community or population made up of people who share a common cultural background or descent.