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Author Question: If the price of a good is 0, a consumer will a. consume all units that have positive total utility ... (Read 40 times)

biggirl4568

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on: Jul 1, 2018
If the price of a good is 0, a consumer will
 a. consume all units that have positive total utility
  b. consume an infinite quantity
  c. consume all units with positive marginal utility
  d. consume the entire amount supplied
  e. consume until total utility becomes 0

Question 2

A consumer maximizes utility when the marginal utilities of all goods
 a. having positive money prices that are equal to zero
  b. are equal
  c. are maximized
  d. are equal to the opportunity costs for all goods that are considered necessities
  e. are exactly proportional to their market prices


fur

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Reply #1 on: Jul 1, 2018
Answer to Question 1

C

Answer to Question 2

E


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