According to the utility theory,in "consumer equilibrium," households have _____
A) consumed as much of every commodity as they wanted.
B) spent their incomes in such a way that their overall satisfaction is maximized.
C) spent their incomes in such a way that their marginal utility is maximized.
D) spent their incomes in such a way that their marginal utility is zero for every product consumed.
E) spent their incomes in such a way that their total utility is zero.
Correct Answer:
Verified
Q65: Exhibit 6.2 Q66: Suppose Sally allocates her budget between two Q67: If Darlene's marginal benefit from consuming another Q68: As a consumer allocates income between Good Q69: Suppose Enid could increase her total utility Q71: A consumer's utility is maximized when the Q72: If Jennie spends her income on ice
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