Consumer equilibrium is a condition in which total utility cannot increase by spending more of a given budget on one good and spending ____ on another good.
A) an equal amount
B) more
C) less
D) zero

Question

Quizplus · Accepted Answer

Consumer equilibrium is achieved when the marginal utility per dollar spent is equal across all goods, meaning reallocating spending would not increase total utility.

Consumer Equilibrium Is a Condition in Which Total Utility Cannot