Arnold Is a Utility-Maximizing Consumer

question 195

Multiple Choice

Arnold is a utility-maximizing consumer.If he thinks his last dollar spent on playing golf yields less satisfaction than the last dollar spent on movies,he should _____

• A)play more golf so that the total satisfaction derived from golf increases.
• B)spend less on movies so that the marginal satisfaction of a movie increases.
• C)play less golf and spend more on movies.
• D)not play golf at all.
• E)play more golf because it costs less.

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Definitions:

Fuel-Efficient

A characteristic of a vehicle or machine that uses fuel in an effective manner, resulting in more output per unit of fuel consumed.

Eco-Efficient

Practices or processes that aim to reduce environmental impacts while maximizing productivity and resource efficiency.

Performance Measurement System

A set of metrics and analytical tools used to quantitatively assess the effectiveness and efficiency of an organization's operations against its objectives.

Triple Bottom Line

An accounting framework that incorporates three parts of sustainability: social, environmental, and financial performances.