When a Consumer Maximizes Utility,economists Say That He or She

question 166

Multiple Choice

When a consumer maximizes utility,economists say that he or she has

• A) become satisfied.
• B) efficiently allocated.
• C) optimized.
• D) rationalized.
• E) marginalized.

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Definitions:

Signal

An action or conduct that conveys information about a person's intentions, capabilities, or qualities in situations of asymmetric information.

Service Plans

Agreements or contracts that offer customers specific services, usually for a predetermined price and duration.

Nanny-Camera

A hidden camera used for monitoring interactions within one's home, especially for observing caregivers.

Monitoring

Monitoring involves the continuous or regular observation and checking of activities or processes to ensure they are going as planned or meeting standards.