Author Question: If the price of a good is 0, a consumer will a. consume all units that have positive total utility ... (Read 39 times)

biggirl4568

  • Hero Member
  • *****
  • Posts: 551
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

  • Sr. Member
  • ****
  • Posts: 309
Answer to Question 1

C

Answer to Question 2

E



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Children with strabismus (crossed eyes) can be treated. They are not able to outgrow this condition on their own, but with help, it can be more easily corrected at a younger age. It is important for infants to have eye examinations as early as possible in their development and then another at age 2 years.

Did you know?

During the twentieth century, a variant of the metric system was used in Russia and France in which the base unit of mass was the tonne. Instead of kilograms, this system used millitonnes (mt).

Did you know?

The first-known contraceptive was crocodile dung, used in Egypt in 2000 BC. Condoms were also reportedly used, made of animal bladders or intestines.

Did you know?

After 5 years of being diagnosed with rheumatoid arthritis, one every three patients will no longer be able to work.

Did you know?

Eating carrots will improve your eyesight. Carrots are high in vitamin A (retinol), which is essential for good vision. It can also be found in milk, cheese, egg yolks, and liver.

For a complete list of videos, visit our video library