--%>

Problem on rational consumption prototype

Whenever you dine at an “all-you-can-eat” buffet, the rational consumption prototype is to carry on eating till: (1) The restaurant goes bankrupt. (2) You have eaten as much food as it would encompass cost had you made your own meal at home. (3) Your subjective assessment is that you have received fair value. (4) You reached the absolute capacity of your stomach. (5) The marginal utility of additional food is zero, after considering taste, calories, and so on.

Please someone suggest me the right answer.

   Related Questions in Macroeconomics

  • Q : Calculating Trade balance Suppose the

    Suppose the value of exports of goods of a country is Rs. 1,000 crores and the value of imports of goods is Rs. 1,200 crores, what will be the trade balance (or balance of trade)?

  • Q : Control of Inflation Economists agree

    Economists agree that inflation beyond a moderate rate is undesirable as it can often prove disastrous and therefore, it must be kept under control. Economists agree also that an appropriate mix of fiscal and monetary policies can be helpful in controlling inflation.

  • Q : Demand-pull inflation What is

    What is "demand-pull" inflation?

  • Q : Price ratios and marginal utility ratios

    I have a problem in economics on Price ratios and marginal utility ratios. Please help me in the following question. The efficiency in consumption needs equality of: (i) Income distribution. (ii) All product price and resources. (iii) MC and MR. (iv)

  • Q : Closed economy Hello. I need help with

    Hello. I need help with my assignment, I was sick and lost alot of time.My submission deadline is tomorrow i need your help i have attached the questions Thanks in advance

  • Q : Define Devaluation Devaluation means

    Devaluation means decrease in the external value of a country’s currency as an aware policy measure adopted by the Government of a country. In another words, we make our currency less costly in terms of foreign currency. This builds our goods ch

  • Q : Problem on Imperfect information

    Imperfect information at times causes consumer’s attempts to maximize their contentment to fail since: (i) Prospects are imperfectly realized, and trial-and-error prototypes can lead to mistakes. (ii) Sellers might exploit asymmetric information

  • Q : Explain model of economy growth. The

    The origin of economic growth can be traced back to Adam Smith's Wealth of Nations. InSmith's view, economic growth of a nation depends on the 'division of labour' and specialization, and is limited by the limits of div

  • Q : Define involuntary unemployment

    Involuntary unemployment: Involuntary unemployment terms to a condition in which people that are willing to work are unable to obtain work.

  • Q : Important issues in Macroeconomics to

    Macroeconomics is primarily focused on issues about: (w) economy extensive aggregate variables as like national income. (x) the structure of economic activity quite than its level. (y) resource allocations through households and business firms. (z) po