Which of the following statements is true?
a) If a consumer is satisfying the equimarginal rule, then she must be consuming the bundle of goods that maximizes her total utility
b) The equimarginal rule states how a consumer will allocate her money income among goods to maximize her total utility
c) The equimarginal rule is a more rigorous restatement of the rationality assumption
d) All of the above
Please tell which is right answer and why?
The true statements is that the equimarginal rule is a more rigorous restatement of the rationality assumption, because total utility maximization is not the main wish of the consumer. So, the correct answer is c.
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