If a rational consumer is in equilibrium, then: a. the marginal utility obtained from one product is equal to the marginal utility obtained from any other product. b. the marginal utility per last dollar spent is the same for all goods consumed. c. total utility becomes zero. d. a reallocation of income would increase the consumer's total utility.
If a rational consumer is in equilibrium, then: a. the marginal utility obtained from one product is equal to the marginal utility obtained from any other product. b. the marginal utility per last dollar spent is the same for all goods consumed. c. total utility becomes zero. d. a reallocation of income would increase the consumer's total utility.
Chapter7: Consumer Choice: Maximizing Utility And Behavioral Economics
Section: Chapter Questions
Problem 1WNG
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If a rational consumer is in equilibrium, then:
a.
the marginal utility obtained from one product is equal to the marginal utility obtained from any other product.
b.
the marginal utility per last dollar spent is the same for all goods consumed.
c.
total utility becomes zero.
d.
a reallocation of income would increase the consumer's total utility.
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