There Are Two Conditions Necessary for a Consumer to Maximize

question 33

Multiple Choice

There are two conditions necessary for a consumer to maximize 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:

Massachusetts Legislature

The state legislature of Massachusetts, consisting of two branches: the Senate and the House of Representatives, responsible for creating state laws.

Delta-Wye Transformer

A type of transformer configuration that converts a delta-connected primary to a wye (star)-connected secondary or vice versa, facilitating power distribution between different systems.

Delta

A triangular electrical connection arrangement of three components or circuits.

Wye

A configuration for electrical circuits or networks where three branches converge at a single point, often used in three-phase systems.