Question

In the theory of the consumer behavior, a consumer is said to maximize utility when

Accepted Answer

Total utility of a commodity is equal to the price paid for it

Answer

Marginal utility of a commodity is equal to the price paid for it

Answer

Marginal utility of a commodity X is equal to the price of commodity Y

Answer

Average utility of a commodity is equal to the price paid for it

In the theory of the consumer behavior, a consumer is said to maximize utility when