If not all goods are essential, a consumer will end up optimizing at a corner solution.

Name: If not all goods are essential, a consumer will end up optimizing at a corner solution.
Brand: Quizplus
Rating: 4.8 (40 reviews)

Question

Quizplus · Accepted Answer

If not all goods are essential, a consumer can still choose to consume a mix of those goods and optimize their utility without ending up at a corner solution. They may allocate some of their budget to non-essential goods while still choosing to consume some essential goods.

If Not All Goods Are Essential, a Consumer Will End