Social Sciences, asked by shashisaini6766, 1 year ago

What is the condition for utility maximization?

Answers

Answered by RaviKumarNaharwal
2
The utility maximization condition in this case is: Total utility is maximum when the marginal utility of the last unit of the good consumed is equal to zero (MU =0).
Answered by ItzDazzingBoy
0

Answer:

The condition for maximizing utility—consume where the ratios of marginal utility to price are equal—holds regardless. The utility-maximizing condition is not that consumers maximize utility by equating marginal utilities.

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