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Please answer each question with at least 250 words, 2 in text citations and references with page numbers 1.Why do consumers seek to maximize their utility? Is marginal utility more useful than total
Please answer each question with at least 250 words, 2 in text citations and references with page numbers
1.Why do consumers seek to maximize their utility? Is marginal utility more useful than total utility in the decision making of consumers? Why or why not? Is marginal utility per dollar spent a more accurate view than marginal or total utility? Why or why not?
2.Is examining the intersection of budget lines and indifference curves a valid means of assessing consumer behavior? Why or why not? How does your analysis of this topic apply to making business decisions?
