The Below Table Shows the Average Utility (In Utils) Obtained

question 84

Multiple Choice

The below table shows the average utility (in utils) obtained from the consumption of goods A and B.Table 7.3

-As long as the marginal utilities per dollar obtained from the last unit of all products consumed are the same, _____.

• A)the consumer is in equilibrium and will not reallocate income
• B)the consumer is not in equilibrium and will reallocate income
• C)the consumer is most likely operating a budget deficit
• D)the consumer is not maximizing utility
• E)the government will recognize this as an intolerable disequilibrium and will most likely intervene by imposing a tax and reallocate the consumer's income

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Definitions:

Assignee

The individual or entity to whom rights or property are legally transferred.

Negotiable Instrument

A written document guaranteeing the payment of a specific amount of money, either on demand or at a set time, with the payer name either mentioned or implied.

Rights

Entitlements or permissions granted to individuals or entities, legally or ethically, to perform certain actions or to be in a particular state.

Indorsement

An act of signing one's name on the back of a check or other negotiable instrument, thereby transferring the rights to another party.