The reality of consumer optimum means making choices in countless purchases in order to enjoy
A) the same standard of living.
B) the same level of satisfaction in each.
C) increasing degrees of satisfaction.
D) a balanced budget.
E) roughly the same utility per dollar spent.

Question

Quizplus · Accepted Answer

Consumer optimum refers to the point where a consumer has allocated their resources in such a way that they maximize their utility or satisfaction. In order to achieve this, a consumer must make choices based on the ability to get the most utility per dollar spent. Therefore, the best choice is E, which refers to roughly the same utility per dollar spent.

The Reality of Consumer Optimum Means Making Choices in Countless