Asked by Cameron Conley on May 18, 2024
Verified
The goal of a rational consumer is to maximize
A) the quantities of all goods consumed.
B) the MU/P of all goods consumed.
C) marginal utility of all goods consumed.
D) total utility from all goods consumed.
Rational Consumer
An individual who seeks to maximize their utility or satisfaction from consumption under their budget constraints.
Utility Maximization
A principle in economics that suggests individuals or firms seek to allocate their resources in a way that maximizes their satisfaction or utility.
Marginal Utility
The additional satisfaction or benefit a consumer receives from consuming an additional unit of a good or service.
- Understand the concept of utility maximization and how it influences consumer choices.
Verified Answer
LD
LAUREN DAVISMay 24, 2024
Final Answer :
D
Explanation :
The goal of a rational consumer is to maximize total utility from all goods consumed, as this reflects the overall satisfaction obtained from their consumption choices.
Learning Objectives
- Understand the concept of utility maximization and how it influences consumer choices.