4102c2d4_hapter_7_Flashcards___Cram_com__or_consumin_goods_and_services
[Utility] equimarginal principle or consumer equilibrium
to mazimize utility, consumers must allocate their scarce incomes among goods so as to equate the marginal utilities per dollar of expenditure on the last unit of each good purchased
Chapter 7 Flashcards - Cram.com