A consumer purchasing a commodity X will maximize his satisfaction if

Home » Past Questions » Economics » Waec » 2011 » A consumer purchasing a commodity X will maximize his satisfaction if
Economics WAEC 2011

A consumer purchasing a commodity X will maximize his satisfaction if

  • Px = MUx checkmark
  • Px ≥ MUx
  • Px > MUx
  • Px < MUx

The correct answer is: A

Explanation

Utility is maximized When price is equal to marginal utility.

Previous Question Next Question

Leave A Comment