Which of the following statements is true about individuals and utility?
A) Individuals always seek to maximize utility.
B) Individuals always seek to maximize their income,not utility.
C) Individuals will either minimize or maximize utility depending on the situation.
D) Individuals rarely try to maximize their utility.
Correct Answer:
Verified
Q8: Utility is:
A)maximized by rational individuals.
B)revealed by observing
Q9: After browsing his cabinets to see what
Q10: Utility is:
A)difficult to measure because it is
Q11: When economists observe someone make a choice,they
Q12: Individuals will make choices to maximize their:
A)preferences.
B)utility.
C)income.
D)values.
Q14: Utility measurements are:
A)a relative ranking of the
Q15: Utility is:
A)at the heart of all microeconomic
Q15: After browsing several pairs of shoes,Bob buys
Q17: Barbie is deciding whether to play soccer
Q18: Carrie is deciding between wearing her blue
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