Q. If a rational consumer is in equilibrium, then: (Solved)
1. the marginal utility obtained from one product is equal to the marginal utility obtained from any other product.
2. a reallocation of income would increase the consumer’s total utility.
3. the marginal utility per last dollar spent is the same for all goods consumed.
4. total utility becomes zero.
- c. the marginal utility per last dollar spent is the same for all goods consumed.