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The Utility Maximization Rule

The Utility Maximization Rule

This lesson introduces the theory of consumer behavior that says in order to optimize or maximize total happiness or utility, a consumer should purchase goods up to the point where the marginal utility per dollar spent on every good is equal. This "utility maximization rule" of consumption is defined and demonstrated in this lesson

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More about this material

Material Type:
Tutorial
Date Added to MERLOT:
July 13, 2021
Date Modified in MERLOT:
July 13, 2021
Author:
Submitter:
Cathy Swift
Asian American, Native American, Pacific Islander Serving Institution Hispanic Serving Institution
Primary Audience:
College General Ed, College Lower Division, College Upper Division
Technical Format:
Video, Website
Mobile Compatibility:
Not specified at this time
Language:
English
Cost Involved:
No
Source Code Available:
Unknown
Accessibility Information Available:
Unknown
Creative Commons:
No

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