I don't understand the meaning of this sentence. This is the concept that experts say when answering questions. Could you explain that? Why is consumer surplus equal to the utility obtained in consumption? Utility refers to the total amount of satisfaction that derived from the consumption of goods and services. The person's consumer surplus in this case is equal to the utility he derived from the consumption.

Since 1979, low-income recipients have been given food stamps without charge. However, before 1979, people bought food stamps at a subsidized rate. For example, to get $1 worth of food stamps, a household paid about 30¢ (the exact amount varied by household characteristics and other factors). What is the budget constraint facing an individual if that individual may buy up to $100 per month in food stamps at 30¢ per each $1 coupon? Compare this constraint to the original budget constraint with no assistance and the budget constraint if the individual receives $100 of food stamps for free. Assume the individual has income of $110 per month. 1.) Using the multipoint curved line drawing tool, graph the budget constraint facing this food stamp recipient with subsidized food stamps. Label this line 'L₁'. 2.) Using the line drawing tool, graph the budget constraint with no food stamp assistance. Label this line 'L2.'" 3.) Using the multipoint curved line drawing tool, graph the budget…

The price of goods A and B are 20 and 10 respectively. given that the marginal utility of commodity A is 10. what is the marginal utility of B if the consumer is at equilibrium.

People who misunderstand the optimal purchase rule argue that if a consumer buys so much of a good that it's price is equal to marginal utility, she could not be behaving optimally. Rather, they sat, she would be better of quitting while she was ahead, or buying a quantity such that marginal utility is much greater than the price. What's wrong with this argument? Answer with a graph