Explain the utility maximizing rule for consumers

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Reference no: EM13311243

Please explain the utility maximizing rule for consumers. If you have $10, price of product A is $1, and price of product B is $2, and you bought 4 product A and 3 product B. In this situation, your total utility of 3 product A is 12, and that of 4 product A is 18, and your total utility of 2 product B is 15 and that of 3 product B is 33. Is your consumption of product A and product B maximizing your utility? If that is not, what is your recommendation?

Reference no: EM13311243

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Explain the utility maximizing rule for consumers : Please explain the utility maximizing rule for consumers. If you have $10, price of product A is $1, and price of product B is $2, and you bought 4 product A and 3 product B. In this situation, your total utility of 3 product A is 12, and that of 4 p..

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