In a scenario where resources are limited, which strategy is most effective for maximizing utility? (2023)
Practice Questions
1 question
Q1
In a scenario where resources are limited, which strategy is most effective for maximizing utility? (2023)
Random allocation of resources.
Prioritizing resources based on marginal utility.
Equal distribution of resources among all parties.
Allocating resources based on historical usage.
Maximizing utility in the face of limited resources is best achieved by prioritizing based on marginal utility, making option 1 the correct choice.
Questions & Step-by-step Solutions
1 item
Q
Q: In a scenario where resources are limited, which strategy is most effective for maximizing utility? (2023)
Solution: Maximizing utility in the face of limited resources is best achieved by prioritizing based on marginal utility, making option 1 the correct choice.
