
Consumers have to make tradeoffs in deciding what to consume because
A) not all goods give them the same amount of satisfaction.
B) the prices of goods vary.
C) they are limited by a budget constraint.
D) there are not enough of all goods produced.
Correct Answer:
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Q6: If your total satisfaction increases when you
Q7: Marginal utility can be
A)negative.
B)zero.
C)positive.
D)positive, negative, or zero.
Q8: If a consumer receives 22 units of
Q9: Consumers maximize total utility within their budget
Q10: Total utility
A)cannot decrease as a person consumes
Q12: If a consumer always buys goods rationally,
Q13: An item has utility for a consumer
Q14: Economists assume that the goal of consumers
Q15: If, when you consume another piece of
Q16: Utility is
A)easily measured in units called utils.
B)subjective
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