21. Which of the following is NOT the goal of the consumer? a. maximize utility b. maximize satisfaction c. be on the highest indifference curve d. spend more income in the current time period than in the future

21. Which of the following is NOT the goal of the consumer? a. maximize utility b. maximize satisfaction c. be on the highest indifference curve d. spend more income in the current time period than in the future

ECON MICRO

5th Edition

ISBN:9781337000536

Author:William A. McEachern

Publisher:William A. McEachern

Chapter6: Consumer Choice And Demand

Section: Chapter Questions

Problem 1.3P

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Concept explainers

Marginal Rate of Technical Substitution

MRTS reaches a manufacturer when a part of the product is lowered to sustain the manufacturing level when the other part is extended. It is the level of the quantity that is lowered when one extra volume is used, and the output is unchanged.

Preferences and Utility Analysis

Before understanding what is preference and utility analysis, it is very important to understand the terms preference and utility separately.

Question

21. Which of the following is NOT the goal of the consumer?
a. maximize utility b. maximize satisfaction
c. be on the highest indifference curve
d. spend more income in the current time period than in the future

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