There Are Two Conditions Necessary for a Consumer to Maximise

question 217

Multiple Choice

There are two conditions necessary for a consumer to maximise her utility.One is that the marginal utilities per dollar spent on each good and service consumed are equal.What is the other condition?

• A)Total spending on all goods and services must equal the amount available to be spent.
• B)The consumer must be satisfied with the choices she makes.
• C)The total spent on each good and service is the same.
• D)The prices of each good and service consumed must not be too high.

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Definitions:

Crevices

Narrow openings or fissures, especially in a rock or wall, often resulting from the earth's movements or the process of weathering.

Wrinkles

Lines or creases in the skin, typically resulting from aging, facial expressions, or prolonged exposure to water.

Cerebral Hemisphere

One of the two parts of the brain, divided by the longitudinal fissure, that are responsible for different functions.

Cortex

The outer layer of the cerebrum in the brain, involved in various high-level brain functions such as thought, memory, and consciousness.