Arrange the following stages of the consumer equilibrium process under the Utility Approach in the correct sequence:
- Marginal utility of the goods is equalized across commodities.
- The consumer allocates income among goods and services.
- The consumer reaches a point where no more reallocation of income improves utility.
- The consumer's total utility is maximized.
1
1 → 2 → 4 → 3
2
2 → 1 → 3 → 4
3
2 → 1 → 4 → 3
4
1 → 2 → 3 → 4