Author Question: If the price of a good is 0, a consumer will a. consume all units that have positive total utility ... (Read 84 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?

Many medications that are used to treat infertility are injected subcutaneously. This is easy to do using the anterior abdomen as the site of injection but avoiding the area directly around the belly button.

Did you know?

The newest statin drug, rosuvastatin, has been called a superstatin because it appears to reduce LDL cholesterol to a greater degree than the other approved statin drugs.

Did you know?

The first monoclonal antibodies were made exclusively from mouse cells. Some are now fully human, which means they are likely to be safer and may be more effective than older monoclonal antibodies.

Did you know?

In 1844, Charles Goodyear obtained the first patent for a rubber condom.

Did you know?

Computer programs are available that crosscheck a new drug's possible trade name with all other trade names currently available. These programs detect dangerous similarities between names and alert the manufacturer of the drug.

For a complete list of videos, visit our video library