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

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

Quizplus · Accepted Answer

Consumers should buy goods and services to the point where the marginal utility per dollar spent is equal across all items, not where the marginal utility of each item is maximized.

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