If a consumer is maximizing his/her utility for a given income, the: marginal utility for every good purchased would be the same. marginal utility per dollar spent for all goods would be the same. marginal utility per dollar for all goods would be at a maximum. total expenditure on each good would be the same. number of units of each good consumed would be the same.
If a consumer is maximizing his/her utility for a given income, the: marginal utility for every good purchased would be the same. marginal utility per dollar spent for all goods would be the same. marginal utility per dollar for all goods would be at a maximum. total expenditure on each good would be the same. number of units of each good consumed would be the 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 11SQ
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If a consumer is maximizing his/her utility for a given income,
the:
marginal utility per dollar spent for all goods would be the same.
marginal utility per dollar for all goods would be at a maximum.
total expenditure on each good would be the same.
number of units of each good consumed would be the same.
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