Multiple Choice
Total utility is maximized in the consumption of two goods by equating the:
A) prices of both goods for the last dollar spent on each good.
B) marginal utilities of both goods for the last dollar spent on each good.
C) ratios of marginal utility to the price of both goods for the last dollar spent on each good.
D) marginal utility of one good to the price of the other.
Correct Answer:
Verified
Correct Answer:
Verified
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