JAMB - Economics (1997 - No. 1)
With a given level of money income, a consumer maximizes satisfaction from the consumption of goods and services when the?
total utility derived from each goods and services is increasing at an increasing rate
marginal utility derived from each good or service is increasing at the same rate
marginal utility derived per naira spent is the same for all the goods and services
total utility derived from all the goods and services is large
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