Individuals achieve maximum utility in the allocation of their time when _____
A) any change in their use of time reduces their total satisfaction.
B) they consciously and carefully weigh the expected marginal utilities per unit.
C) they consciously and carefully weigh the actual marginal utilities per unit of time spent in each activity.
D) the expected average utility of each activity is equal.
E) people make a concerted effort to measure satisfaction.
Correct Answer:
Verified
Q2: Work is an attractive use of your
Q3: Abby maximizes utility by allocating her time
Q4: A college dean has a _ opportunity
Q5: Market work includes activities such as _
A)practicing
Q7: Leisure is _
A)not subject to the law
Q8: People who earn higher market wages _
A)have
Q10: People make mistakes in allocating their time
Q11: People who are more productive in nonmarket
Q30: People who gain greater enjoyment from leisure
Q38: A college student working in a minimum-wage
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