Question : In the cardinal utility approach, consumer's equilibrium is achieved when:

Option 1: Total utility is maximized.

Option 2: Marginal utility is maximized.

Option 3: Marginal utility equals zero.

Option 4: Marginal utility per dollar spent is equal across all goods.

Question : In the cardinal utility approach, the consumer's equilibrium is achieved when:

Option 1: Total utility is maximized.

Option 2: Marginal utility is maximized.

Option 3: Marginal utility equals zero.

Option 4: Marginal utility per dollar spent is equal across all goods.

Question : In the cardinal utility approach, the consumer's equilibrium is achieved when:

Option 1: Total utility is maximized.

Option 2: Marginal utility is maximized.

Option 3: Marginal utility equals zero.

Option 4: Marginal utility per dollar spent is equal across all goods.

Question : In the cardinal utility approach, the consumer's equilibrium is achieved when:

Option 1: Total utility is maximized.

Option 2: Marginal utility is maximized.

Option 3: Marginal utility equals zero.

Option 4: Marginal utility per dollar spent is equal across all goods.

Question : The consumer's equilibrium is attained at the point where:

Option 1: Marginal utility is zero

Option 2: Marginal utility is positive

Option 3: Marginal utility is equal to price

Option 4: Marginal utility is equal to income