In deciding on how to spend their resources,consumers try to
A) maximize expenditures.
B) choose the combination of goods that yield the highest level of personal satisfaction.
C) choose the combination of goods that costs the least.
D) maximize profit.

Question

Quizplus · Accepted Answer

Consumers aim to maximize their personal satisfaction or utility with the limited resources they have. Therefore, they choose the combination of goods that yield the highest level of personal satisfaction, which is known as utility maximization.

In Deciding on How to Spend Their Resources,consumers Try to