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mLine 95:
Line 95: − − It is impossible for anyone else to measure your utility, or for you to try to compare your total utility to that of other consumers, because it is based on personal likes and dislikes that vary greatly from individual to the next. What you can do is decide for yourself which goods and prices give you the greatest utility, and then buy accordingly. That may include political and religious issues in addition to pure dollars and cents. For example, some conservatives boycott companies that fund [[abortion]], regardless of how inexpensively those companies sell their goods. Such a boycott maximizes the participants’ utility, but not necessarily their savings. Many other boycotts have occurred in American history based on principles rather than price (“principle, not principal!”).
→Utility and Diminishing Marginal Utility: trim
The rational consumer maximizes utility by spending each dollar in a way to maximize marginal utility for that dollar. For such a consumer, the marginal utility of every good divided by that good’s price must be equal. MU<sub>x</sub>/P<sub>x</sub> = MU<sub>y</sub>/P<sub>y</sub>=MU<sub>z</sub>/P<sub>z</sub>, where MU<sub>x</sub> is the marginal utility of good “x” and P<sub>x</sub> is the price of good “x”. This is known as the Law of Equiproportion Marginal Benefit.
The rational consumer maximizes utility by spending each dollar in a way to maximize marginal utility for that dollar. For such a consumer, the marginal utility of every good divided by that good’s price must be equal. MU<sub>x</sub>/P<sub>x</sub> = MU<sub>y</sub>/P<sub>y</sub>=MU<sub>z</sub>/P<sub>z</sub>, where MU<sub>x</sub> is the marginal utility of good “x” and P<sub>x</sub> is the price of good “x”. This is known as the Law of Equiproportion Marginal Benefit.
== Lack of Utility ==
== Lack of Utility ==