oo AT&T; LTE 8:27 PM Assignments Micro Assignment Detail Submission Grade Micro

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oo AT&T; LTE 8:27 PM Assignments Micro Assignment Detail Submission Grade Micro Assignment Micro Assignment Due:Dec 1, 2017, 5:00 PM Micro - ECON-2302 Assignment Copy Select All Look Up Share... nswer the questions below in essay form as complete and concise as possible Critical thinking has to be applied in answering the questions with relevant examples for you to demonstrate your understanding of the question Complete assignment utilizing Microsoft Word. Do not retype the question. Make sure to only type the question # and the answer that corresponds with the question. Once you have completed Courses Calendar To Do Notifications Messages

Explanation / Answer

When the consumer allocate his income so that the last dollar spend on each product gives or yield the same amount of extra marginal utility. or in other words the consumer dispose his income in such a way to derive the greatest amount of satisfaction or total utility. In algebra terms, it is defined by utility maximization = MU of good A / price of good A = MU of good B / price of good B .

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