if the marginal utility of a commodity is equal to its price then
ECONOMICS
WAEC 2018
if the marginal utility of a commodity is equal to its price then
- A. the consumer is in equilibrium
- B. more of the commodity can be consumed
- C. total utility is also equal to its price
- D. the market is not in equilibrium
Correct Answer: C. total utility is also equal to its price
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