To maximize utility consumers should buy goods and services to the point where the marginal utility of each item consumed is equal.

Name: To maximize utility consumers should buy goods and services to the point where the marginal utility of each item consumed is equal.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Consumers maximize utility by purchasing goods and services until the marginal utility per dollar spent is equal across all items, not just the marginal utility of each item.

To Maximize Utility Consumers Should Buy Goods and Services to the Point