Question

The reality of consumer optimum means making choices in countless purchases in order to enjoy:______.

a. roughly the same utility per dollar spent.
b. the same level of satisfaction in each.
c. the same standard of living.
d. increasing degrees of satisfaction.
e. a balanced budget.

Answer 1

a. roughly the same utility per dollar spent.

Step-by-step explanation:

A consumer optimum can be defined as the combination of finished goods and services which typically maximizes satisfaction (utility) for the consumers of various goods and services at a specific income and product prices.

The reality of consumer optimum means making choices in countless purchases in order to enjoy roughly the same utility per dollar spent.

For example, a customer who wishes to obtain maximum satisfaction, utility or value for his or her money (dollar spent) may decide to buy a variety of goods such as milk, donuts, biscuits, chocolate, cheese etc