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Which of the following are consistent with utility-maximizing behavior? (a) My utility being raised after the city of Davis implements a strict quota on water
Which of the following are consistent with utility-maximizing behavior?
(a) My utility being raised after the city of Davis implements a strict quota on water consumption
(b) Items A and B are complements. When A goes on sale (i.e. the price falls), Ana buys less of A and more of B due to the Law of Complements.
(c) For Prince Harry, ground beef is an inferior good. When Prince Harry's allowance is cut, he buys more ground beef.
(d) None of the above
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