How much of a good will consumers who wish to maximize their net benefit (value less cost)purchase?

Question

Quizplus · Accepted Answer

Consumers who wish to maximize their net benefit (value less cost) will purchase the amount where marginal value just equals the good's price. This is because purchasing more than this amount of the good will result in the marginal value being less than the price, therefore reducing the net benefit. On the other hand, purchasing less than this amount will result in the marginal value being greater than the price, again reducing the net benefit. Therefore, the optimal amount to purchase is where the marginal value just equals the price.

How Much of a Good Will Consumers Who Wish to Maximize