alleryStart learning →In economic terms, consumers are described as trying to maximise their total:
AWorking
BUtility
CIncome
DSavings
Answer & Solution
Correct answer: B. Utility
1. Consumers are modelled as pursuing one objective.
2. Consumers make choices within certain budget constraints.
3. In economic terms they are trying to maximize total utility.
4. Total utility is another word for satisfaction.
_Source: OpenStax Principles of Microeconomics for AP Courses 2e (CC BY 4.0), Ch 6 'Consumer Choices'_
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