Economics · Consumer Behavior and Utility Analysis
A consumer is said to be in equilibrium and maximizing utility when:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The consumer feels satisfied with expenditure on various goods.
- 2The consumer gets full satisfaction from consumption.
- 3The ratios of the marginal utilities to their respective prices are equal.✓
- 4The marginal utilities of the two goods consumed are equal.
Correct answer
The ratios of the marginal utilities to their respective prices are equal.
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