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Maximising utility from a budget

Maximising utility from a budget

The equi-marginal principle states that a consumer maximises total utility from a fixed budget when the marginal utility per pound spent is equal across all goods bought. Marginal utility is the extra satisfaction gained from consuming one more unit of a good.

7.1.3 equi-marginal principle Lesson

  1. Intl A Level
  2. /Economics
  3. /7.1.3 equi-marginal principle

Step-by-step lessons on CIE Intl A Level Economics 7.1.3 equi-marginal principle. Each one builds up to exam-style questions.

Lessons