If a Person Wishes to Maximize Their Satisfaction from the Consumption

question 67

Multiple Choice

If a person wishes to maximize their satisfaction from the consumption of a free product,they should consume until

• A)marginal utility is maximized.
• B)marginal utility is equal to total utility.
• C)total utility is equal to zero.
• D)marginal utility is equal to zero.
• E)total utility begins to increase.

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Definitions:

Budget Surplus

The condition where a government's revenues exceed its expenditures over a specific period of time.

Public Saving

The difference between government receipts and government spending, representing the amount the government either saves or borrows.

Positive

In economics, referring to statements or analyses that are fact-based and describe the world as it is, rather than how it should be.

Budget Deficit

Occurs when a government spends more money than it receives in revenue over a specific period of time.