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QUICK RECAP: How to calculate Weighted marginal utility, Total utility and Marginal utility
Автор: YourStudyBuddy
Загружено: 2025-06-05
Просмотров: 337
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To maximize utility, two conditions need to be met:
1. MU1/P1 = MU2/P2 (marginal utility per rand spent is equal across goods)
2. The consumer's entire budget is allocated.(income)
Now, I know many of you are writing exams today so I want to take a moment to wish you all the best of luck, my study buddies! You've got this! Stay focused, stay calm and show off your knowledge. Good luck and thank you for being part of this community.
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