With a given level of money income, a consumer maximizes satisfaction from the consumption of...
ECONOMICS
JAMB 1997
With a given level of money income, a consumer maximizes satisfaction from the consumption of goods and services when the?
- A. total utility derived from each goods and services is increasing at an increasing rate
- B. marginal utility derived from each good or service is increasing at the same rate
- C. marginal utility derived per naira spent is the same for all the goods and services
- D. total utility derived from all the goods and services is large
Correct Answer: C. marginal utility derived per naira spent is the same for all the goods and services
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