The Table Given Below Reports the Total Utility Derived by an Individual

question 49

Multiple Choice

The table given below reports the total utility derived by an individual from the consumption of different units of goods A, B, and C.Table 7.4

-A consumer is in equilibrium when:

• A)his or her marginal utility derived from each good is maximized.
• B)each dollar spent on each item provides more and more satisfaction.
• C)each dollar spent on each item provides less and less satisfaction.
• D)the last dollar spent on each item provides the same additional satisfaction as that dollar would if spent on any other item.
• E)his or her average utility for each item is the same.

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Definitions:

Sales Discount

A reduction in the price charged to customers, typically given in exchange for prompt payment.

Discount Period

The discount period refers to the time frame in which a payment can be made at a reduced rate, typically in the context of early payment incentives to debtors.

Primary Source

Original documents or evidence directly associated with a subject or event under investigation, used in research.

Revenue

The total amount of money generated by the sale of goods or services related to a company's primary operations.