As a Consumer Allocates Income Between Good a and Good

question 42

Multiple Choice

As a consumer allocates income between good A and good B, total utility is maximized when:​

• A)marginal utility of A = marginal utility of B
• B)marginal utility of A = marginal utility of B = 0
• C)price of A = price of B
• D)marginal utility of A/price of A = marginal utility of B/price of B = 0
• E)marginal utility of A/price of A = marginal utility of B/price of B

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Definitions:

Labeling Theory

A perspective in sociology and criminology that considers the labeling of individuals or groups as deviant to play a significant role in their identification and behavior as such.

Normalization

The process of making something standard, normal, or acceptable within a societal or group context.

Stress

The condition in which the demands made on the person exceed the individual’s ability to cope with them.

Control Theory

A theory in sociology and criminology that posits that social and personal factors and the fear of consequences control whether people commit crimes.