Economics · Consumer Behaviour
A consumer is deciding between buying a smartphone or a new laptop. He allocates his budget in a way that maximizes his total satisfaction from the purchase, ensuring that the marginal utility per unit of money spent is equalized across goods. What economic objective is the consumer achieving in this example?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Total Utility
- 2Marginal Utility
- 3Consumer Surplus
- 4Utility Maximization✓
Correct answer
Utility Maximization
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