A consumer with a fixed income will maximize utility when each good is purchased in amounts such that the a. Marginal utility per rupee spent is maximized for each good b. Marginal utility per rupee spent is the same for all goods c. Marginal utility of each good is maximized d. Total utility for each good is same
A consumer with a fixed income will maximize utility when each good is purchased in amounts such that the a. Marginal utility per rupee spent is maximized for each good b. Marginal utility per rupee spent is the same for all goods c. Marginal utility of each good is maximized d. Total utility for each good is same
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter6: Consumer Choice Theory
Section: Chapter Questions
Problem 6SQP
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Question
A consumer with a fixed income will maximize utility when each good is purchased in amounts such that the
a.
Marginal utility per rupee spent is maximized for each good
b.
Marginal utility per rupee spent is the same for all goods
c.
Marginal utility of each good is maximized
d.
Total utility for each good is same
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