To Maximize Utility, a Consumer Should Allocate Money Income So

question 116

Multiple Choice

To maximize utility, a consumer should allocate money income so that the

• A)elasticity of demand on all products purchased is the same.
• B)marginal utility obtained from the last dollar spent on each product is the same.
• C)total utility derived from each product consumed is the same.
• D)marginal utility of the last unit of each product consumed is the same.

---

Definitions:

Academic Advisor

A professional who provides students with guidance on academic schedules, career advice, and navigating college or university systems.

Graduation Requirements

The set of criteria, including completed coursework and assessments, that students must meet to qualify for receiving a diploma or degree.

Records Office

An office responsible for maintaining and managing the records or archives of an organization or institution.

Study Group

A small assembly of learners who gather regularly to discuss and review course material, share insights, and prepare for exams collaboratively.