If a good is free, when will a consumer stop wanting to buy the good?Once the total utility equals zeroAt the quantity where marginal utility is at its maximumOnce the marginal utility equals zeroWhen marginal utility is negativeOnce the marginal utility equals total utilityWhat is used to measure a consumer's entire satisfaction or happiness of achoice?Total utilityMarginal costMarginal utilityTotal RevenueTotal costsWhich of the following best defines the term utility as it is used by economists?when a market allocates resources in a way that maximizes consumer and producersurplus

''Since multiple questions are asked, we are supposed to answer one question'' Marginal Utility is…

If a good is free, when will a consumer stop wanting to buy the good? Once the total utility equals zero At the quantity where marginal utility is at its maximum Once the marginal utility equals zero When marginal utility is negative Once the marginal utility equals total utility

If a good is free, when will a consumer stop wanting to buy the good? Once the total utility equals zero At the quantity where marginal utility is at its maximum Once the marginal utility equals zero When marginal utility is negative Once the marginal utility equals total utility

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter21: Demand: Consumer Choic

Section: Chapter Questions

Problem 1E

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Question

If a good is free, when will a consumer stop wanting to buy the good?
Once the total utility equals zero
At the quantity where marginal utility is at its maximum
Once the marginal utility equals zero
When marginal utility is negative
Once the marginal utility equals total utility
What is used to measure a consumer's entire satisfaction or happiness of a
choice?
Total utility
Marginal cost
Marginal utility
Total Revenue
Total costs
Which of the following best defines the term utility as it is used by economists?
when a market allocates resources in a way that maximizes consumer and producer
surplus

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