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emma.locke16 emma.locke16
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5 years ago
A consumer has spent all of his income on pizza and movies. The price of a piece of pizza is $1 and the price of a movie is $6. The marginal utility of the last piece of pizza is 5 and the marginal utility of the last movie is 24. The consumer has
A) maximized utility.
B) not maximized utility. He should cut back on movies and buy more pizza.
C) not maximized utility. He should cut back on pizza and buy more movies.
D) not maximized utility. He should cut back consumption of each good.
Textbook 
Economics Today: The Micro View

Economics Today: The Micro View


Edition: 19th
Author:
Read 33 times
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wrote...
#1
5 years ago
 B
emma.locke16 Author
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#2
5 years ago
This helps so much, thank you for responding so quickly...
wrote...
#3
5 years ago
No worries, I was online and bored Grinning Face with Smiling Eyes
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