Question

A consumer will switch____________a product with a higher MU/P and____________a product with a lower MU/P, in order to maximize____________utility.

Answer 1

To maximize utility, a consumer switches to products with higher MU/P and away from products with lower MU/P.

Step-by-step explanation:

In order to maximize utility, a consumer will switch to a product with a higher MU/P and away from a product with a lower MU/P. This is because MU/P represents the marginal utility per dollar spent on a product. By choosing products with higher MU/P, the consumer can get more utility per dollar spent and maximize their overall satisfaction.