Author Question: When a consumer spends all of his or her income and consumes a bundle of goods such that the ... (Read 93 times)

oliviahorn72 · **on:** Jun 29, 2018

When a consumer spends all of his or her income and consumes a bundle of goods such that the marginal utility per dollar from all goods is equal, then the

A) consumer's total utility is maximized.
B) consumer is in his or her consumption equilibrium.
C) marginal utilities for each good are maximized.
D) Both answers A and B are correct.

Question 2

A monopoly that sells every unit of its output at the same price is a ________.

A) unit-price monopoly
B) legal monopoly
C) natural monopoly
D) single-price monopoly