Rationality is a normative concept.
Indicate whether the statement is true or false
Question 2
Consumers should allocate their income so that the marginal utility associated with the:
a. first dollar spent is equal for all goods.
b. last dollar spent is equal for all goods.
c. last dollar spent is lower for high-priced items than for low-priced items.
d. first dollar spent is greater for high-priced items than for low-priced items.
e. first dollar spent is less for high-priced items than for low-priced items.
