At any given market price, a consumer
A)will never be able to buy a quantity of a good that maximizes utility.
B)holds out (refuses to buy) until the price falls.
C)will feel cheated by the individual seller.
D)will seek to buy a quantity of a good that maximizes utility.
E)will always be able to buy a quantity of a good that maximizes utility.

Question

Quizplus · Accepted Answer

Consumers seek to maximize their utility, or satisfaction, when making purchase decisions. Therefore, at any given market price, a rational consumer will choose to buy the quantity of the good that maximizes their utility. This may vary depending on the individual's preferences, income, and the price of the good. However, the consumer will always aim to make a purchase that provides them with the most satisfaction possible.

At Any Given Market Price, a Consumer