Which of the Following Statements Is True About the Consumer's

question 62

Multiple Choice

Which of the following statements is true about the consumer's expenditure minimization problem?

• A)The consumer's expenditure minimization problem results in the same optimal basket as the consumer's utility maximization problem if the required level of utility for the expenditure minimizer is the same as the maximized utility for the utility maximizer.
• B)The consumer's expenditure minimization problem has an optimum at an expenditure of zero.
• C)The consumer's utility maximization problem results in a tangency between the budget constraint and an indifference curve, whereas the expenditure minimization problem results in a solution where the indifference curve crosses the budget line.
• D)The consumer always prefers to maximize utility rather than to minimize expenditure.

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