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ESC1501 ASSIGNMENT 8 FOR 2ND SEMESTER 2024

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Institution University Of South Africa (Unisa)
Course Economics IA (ECS1501)
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ECS1501
ASSIGNMENT 8 FOR 2ND SEMESTER 2024




FEND TUTORIALS

, Started on Wednesday, 28 August 2024, 10:23 AM
State Finished
Completed on Wednesday, 28 August 2024, 10:33 AM
Time taken 9 mins 20 secs
Marks 9.00/11.00
Grade 81.82 out of 100.00


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A consumer is maximising his/her utility when


the marginal utility for all goods purchased is equal.


the marginal utilities per rand are the same on all goods in his/her budget.


the use value of a good minus the exchange value of a good is negative.


marginal utility is negative on all goods and services.

Clear my choice

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A utility-maximising consumer will choose to purchase another unit of a good if


the opportunity cost of consuming the good is constant.


the good has the lowest weighted marginal utility.


the marginal utility of the good is falling.


the good has the highest weighted marginal utility.


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