The old saying "getting the biggest bang for your buck" means that
A) consumers never experience diminishing marginal utility.
B) consumers maximize their utility.
C) consumers spend every dollar in their budget.
D) the real-income effect is equal to the substitution effect.
E) consumers stop consuming when the marginal utilities of each good are equal regardless of the prices of each good.

Question

Quizplus · Accepted Answer

"Getting the biggest bang for your buck" means getting the maximum value or utility for the money spent. Therefore, consumers who try to achieve this are maximizing their utility given their budget constraint.

The Old Saying "Getting the Biggest Bang for Your Buck