For a given budget, a consumer is assumed to
A)maximize marginal utility.
B)minimize marginal utility.
C)maximize total utility.
D)minimize total utility.
E)do nothing about utility.

Question

Quizplus · Accepted Answer

The consumer is assumed to maximize total utility within their given budget. They want to get the most satisfaction or benefit from their spending. This means choosing the combination of goods and services that provides the highest total utility while staying within their budget constraints.

For a Given Budget, a Consumer Is Assumed to