To obtain the greates utility consumer should allocate mo... — Answer & Explanation | PrepBeePakistan

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HomeMCQsAgriculture

MEDIUMENGLISHAgriculture

To obtain the greates utility consumer should allocate money income so that last dollar spent on each good or service yields the same marginal utility ?

Correct answer: C

Explanation

The statement describes the utility maximization rule, which is derived from the Law of Diminishing Marginal Utility. The Law of Diminishing Returns relates to production, not consumer utility.

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