In resource markets,_____
A)households demand the resources that maximize profit.
B)households demand the resources that minimize profit.
C)households supply the resources that maximize utility.
D)households supply the resources that minimize utility.
E)households and utility are not related.

Question

Quizplus · Accepted Answer

In resource markets, households supply resources (such as labor, land, and capital) to firms. They do this in a way that maximizes their utility, which can include factors like income, leisure, and personal satisfaction. This is why option C is correct.

In Resource Markets,_____