JAMB - Economics (2015 - No. 58)
In a situation where Mux represent the marginal utility of product X while Px represent the price respectively. Utility can be maximized when
MUX = MUA
MUX = PX
PX = X
PX = PY
Wyjaśnienie
A consumer utility is maximized when the marginal utility per amount spent on a product is equal to the price.