According the utility-maximizing rule, consumers achieve the greatest amount of satisfaction by doing which of the following?

BlackTom题目解析

Question

According the utility-maximizing rule, consumers achieve the greatest amount of satisfaction by doing which of the following?

BlackTom题目解析

BlackTom AI · Accepted Answer

The question asks about the utility-maximizing rule and what leads to the greatest satisfaction for a consumer. 
Option 1: 'Purchasing goods or services with the lowest possible opportunity cost.' While choosing low opportunity cost can be sensible, the utility-maximizing rule specifically requires comparing marginal utilities relative to prices, not just opportunity costs in isolation. So this is incomplete as a standalone criterion for maximizing total utility.
Option 2: 'Allocating income such that the last dollar spent on a given good yields the lowest amount of marginal utility.' This statement contradicts the fundamental rule. To maximize satisfaction, the last dollar spent on each good should provide as much marginal utility as possible, not the least; continuing to spend where MU is higher than other options increases total utility, so this option is incorrect.
Option 3: 'Avoiding purchases that decrease marginal utility.' While avoiding negative marginal utility can be reasonable, the blunt claim that you should avoid any purchase that decreases MU oversimplifies the decision. Some purchases may have a temporary dip in MU but still contribute to overall satisfaction due to budget constraints, complementarity, or future benefits, so this option is not the formal rule for utility maximization.
Option 4: 'Purchasing a combination of goods or services whereby the last dollar spent on each good yields the same amount of marginal utility.' This aligns with the standard utility-maximizing rule: allocate income so that the marginal utility per dollar (MU/P) is equal across all goods and services. When all spent dollars yield equal marginal utility per price unit, reallocating funds would not increase total utility, given the budget constraint. Therefore, this option correctly captures the principle.

According the utility-maximizing rule, consumers achieve the greatest amount of satisfaction by doing which of the following? BlackTom题目解析

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