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Marginal Utility

A consumer ge...

Question

A consumer gets maximum satisfaction where the ___ are same.

A

Total utility and marginal utility

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B

Price of commodity and marginal utility

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C

Price of commodity and total utility

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D

(A) and (B) both

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Solution

The correct option is C Price of commodity and total utility
A consumer gets maximum satisfaction from his limited income when the marginal utility per rupee spent is equal for all goods.

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Similar questions

Q. Given below is the utility schedule of a consumer for commodity-X. The price of the commodity is Rs. 6 per unit. How many units should the consumer purchase to maximise satisfaction? (Assume that utility is expressed in units and 1 util = Rs. 1). Give reasons for your answer.

Consumption (Units)	Total Utility (Utils)	Marginal Utility (Utils)
1	10	10
2	18	8
3	25	7
4	31	6
5	34	3
6	34	0

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