Explain about the optimal consumption rule, Microeconomics

Assignment Help:

Explain about the optimal consumption rule.

The optimal consumption rule:

While a consumer maximizes utility, the marginal utility per dollar spent should be similar for all goods and services into the consumption bundle.

MUC/PC = MUP/PP


Related Discussions:- Explain about the optimal consumption rule

Cost, define cost its types with curves

define cost its types with curves

Arbitration, Arbitration The use of a third party to describe between ...

Arbitration The use of a third party to describe between two sides dead locked in a negotiation. The arbitrator's decision can be binding or not binding, as before agreed upon

Indifference curve, Jane receives utility from days spent travelling on vac...

Jane receives utility from days spent travelling on vacation domestically(D) and days

Financial market, Explain the effect of increased money supply on bond pric...

Explain the effect of increased money supply on bond prices

Production posibility curve, what do you understand by production posibilit...

what do you understand by production posibility curve?

What is a prisoners dilemma, 1. Ayanna grows herbs. Last year she grew 2,00...

1. Ayanna grows herbs. Last year she grew 2,000 pounds of herbs in a year while using 250 square feet of land and 1 worker. This year she doubled her land to 500 square feet, doubl

Neutron diffraction, chemistry assignments ,  Neutron diffraction supplemen...

chemistry assignments ,  Neutron diffraction supplements x-ray diffraction and is particularly helpful in locating hydrogen atoms. An x-ray beam is scattered primarily as a result

Describe the theory of effective demand, Q. Describe the Theory of effectiv...

Q. Describe the Theory of effective demand ? Effective Demand:Theory of effective demand was developed separately in the 1930s by Michal Kalecki andJohn Maynard Keynes. It eluc

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd