If a consumer is maximizing utility,she will purchase quantities of output to the point where the total utility per dollar spent on consumption is equal across all goods.
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Q1: As long as a person had to
Q2: Marginal utility must be positive.
Q4: Behavioral economists use findings from psychology to
Q5: When a person's income doubles,her consumption of
Q6: Utility theory is an efficient tool in
Q7: At consumer equilibrium income is allocated to
Q9: The law of diminishing marginal utility is
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Q30: The law of diminishing marginal utility is
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