You maximize utility when marginal utility divided by the price of product A is equal to the marginal utility divided by the price of product B. MUa/Pa=MUb/Pb or MUa/MUb= Pa/Pb
explain the difference between total utility and marginal utility
Consumers use cost-benefit analysis in order to maximize utility.
Consumers use cost-benefit analysis in order to maximize utility.
Consumers use cost-benefit analysis in order to maximize utility.
You maximize utility when marginal utility divided by the price of product A is equal to the marginal utility divided by the price of product B. MUa/Pa=MUb/Pb or MUa/MUb= Pa/Pb
explain the difference between total utility and marginal utility
Consumers use cost-benefit analysis in order to maximize utility.
Consumers use cost-benefit analysis in order to maximize utility.
Consumers use cost-benefit analysis in order to maximize utility.
Consumers use cost-benefit analysis in order to maximize utility.
You maximize utility when marginal utility divided by the price of product A is equal to the marginal utility divided by the price of product B. MUa/Pa=MUb/Pb or MUa/MUb= Pa/Pb
satisfaction or pleasure one gains from consuming a product or service or from taking an action.
chips
Impossible to answer ! Not all households in the UK have electric and gas - and the number of people in a home can range from 1 to 10 !
marginal utility model ....i think circular flow model....
62,105,263 households.