Problem
1. Why will the marginal utility per dollar spent not necessarily be equal for all goods at a corner point?
2. Suppose that a consumer with an income of $1,000 finds that basket A maximizes utility subject to his budget constraint and realizes a level of utility U1. Why will this basket also minimize the consumer's expenditures necessary to realize a level of utility U1?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.