If a consumer is maximizing utility,he will purchase quantities of output to the point where the price of the last unit purchased is equal across all goods.

Name: If a consumer is maximizing utility,he will purchase quantities of output to the point where the price of the last unit purchased is equal across all goods.
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Question

Quizplus · Accepted Answer

A consumer maximizes utility by purchasing quantities of goods such that the marginal utility per dollar spent is equal across all goods, not the price of the last unit.

If a Consumer Is Maximizing Utility,he Will Purchase Quantities of Output