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Business Studies

Importance of Consumer Protection for Business

Assertion :"U...

Question

Assertion :"Utility will be maximised when the marginal unit of expenditure in each direction brings the same increment of utility." Reason: A consumer will try to maximize his utility.

A

Both Assertion and Reason are correct

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B

Both Assertion and Reason are incorrect

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C

Assertion is correct but Reason is incorrect

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D

Assertion is false and Reason are correct

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Solution

The correct option is A Both Assertion and Reason are correct
1)Utility of a consumer is maximized when the marginal utility derived from the product which he actually gets is equal to the marginal utility of the product which he desires to get.
2)A consumer always try to maximize his utility and try to reach it's equilibrium point.

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