A utility maximizing household will allocate its expenditure so that?
Question
A utility maximizing household will allocate its expenditure so that?Options
A)
more naira is spent on commodities with the highest utility
B)
less naira is spent on commodities with the lowest utility
C)
the utility of the last naira spent on each commodity is equal
D)
the amount spent on each commodity is equal
Related Lesson: Key Concepts and Summary | Consumer Choices
The correct answer is C.
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