A condition for consumer utility maximization is

ECONOMICS

WAEC 2012

A. equality of the ratio of marginal utilities and the ratio of prices
B. equality of the ratio of average utilities and the ratio of prices
C. equality of the marginal utility to total utility ratio for both commodities
D. total utility and marginal utility must be zero

Correct Answer: A. equality of the ratio of marginal utilities and the ratio of prices

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