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Title: The price of a piece of pizza is $1 and the price of a movie is $4 and the consumer has $10. A ... Post by: rsbains on Mar 3, 2019 The price of a piece of pizza is $1 and the price of a movie is $4 and the consumer has $10. A consumer has purchased 2 pieces of pizza and 2 movies, receiving 25 units of utility for the second pizza and 100 units of utility for the second movie. The set of goods
• is not an optimum because the marginal utility per dollar spent is greater for pizza than for movies. • is not an optimum because the consumer has not spent all of his money. • is an optimum since the entire income is spent and the marginal utility per dollar spent is the same for the last unit of each good. • is an optimum since the entire income is spent and total utility is minimized. Title: The price of a piece of pizza is $1 and the price of a movie is $4 and the consumer has $10. A ... Post by: Mtoney9 on Mar 3, 2019 Content hidden
Title: The price of a piece of pizza is $1 and the price of a movie is $4 and the consumer has $10. A ... Post by: rsbains on Mar 3, 2019 Thanks
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