To Maximize Utility, a Consumer Should Allocate Money Income So

question 116

Multiple Choice

To maximize utility, a consumer should allocate money income so that the

• A)elasticity of demand on all products purchased is the same.
• B)marginal utility obtained from the last dollar spent on each product is the same.
• C)total utility derived from each product consumed is the same.
• D)marginal utility of the last unit of each product consumed is the same.

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Definitions:

Enzyme Function

The role of an enzyme in catalyzing specific chemical reactions, speeding up the reaction without being consumed in the process.

pH

A measure of the acidity or alkalinity of a solution, with a range from 0 to 14.

Denaturation

A structural change in proteins or nucleic acids, often irreversible, caused by external factors like pH, temperature, or chemicals.

Polar Covalent

A type of chemical bond where a pair of electrons is unequally shared between two atoms, causing a distribution of electrical charge.