Assume That a Person Is Consuming the Utility-Maximizing Quantities of Pork

question 164

Multiple Choice

Assume that a person is consuming the utility-maximizing quantities of pork and chicken.We can conclude that:

• A) the price of pork equals the price of chicken.
• B) the marginal utility of pork equals the marginal utility of chicken.
• C) the ratio of the marginal utility to price is the same for pork and for chicken.
• D) both A and B are true.

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Definitions:

Intrinsic Motivation

The motivation to participate in an action for the inherent satisfaction it provides, rather than for any external incentive or result.

Using Rewards

A technique in which incentives are provided to encourage certain behaviors or outcomes.

Bribing People

The act of giving someone money or other valuables to persuade them to do something, usually something illegal or unethical.

Intrinsic Motivation

Intrinsic motivation refers to performing an activity for its inherent satisfaction or pleasure, rather than for some separable consequence or reward.