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msee1021 msee1021
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5 years ago
The price of hamburgers is $2 and the price of brownies is $4. The consumer has $16 of income. The consumer is purchasing 3 hamburgers and receiving 20 utils for the last hamburger. He is also purchasing 2 brownies and receiving 40 utils for the last brownie. This set of goods
A) 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.
B) is an optimum since the entire income is spent and total utility is maximized.
C) is not an optimum because the marginal utility per dollar spent is greater for hamburgers than for brownies.
D) is not an optimum because the consumer has not spent all of his money.
Textbook 
Economics Today: The Micro View

Economics Today: The Micro View


Edition: 19th
Author:
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kab170kab170
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5 years ago
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msee1021 Author
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#2
5 years ago
Thank you for helping me with my quiz
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#3
5 years ago
Perfect
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