Top Posters
Since Sunday
5
a
5
k
5
c
5
B
5
l
5
C
4
s
4
a
4
t
4
i
4
r
4
Home Q & A Board Other Fields Homework Help Business Economics
New Topic  
shaerovira shaerovira
wrote...
Go to Answer
Posts: 488
Rep: 17 0
5 years ago
During a study session for an economics exam with three other students, Peter Daltry commented on an example of a consumer who had to decide on number of slices of pizza and cups of Coca-Cola he would consume. Peter explained that "To maximize his utility this consumer must equate the marginal utility per dollar for pizza and Coca-Cola." Was Peter's analysis correct?

• Peter described one of the conditions necessary for utility maximization. The consumer also must equate the marginal utility of pizza and the marginal utility of cups of Coca-Cola.

• Peter's statement is correct.

• Peter's statement is correct, but we must also assume that the consumer is rational.

• Peter describes one of the conditions necessary for utility maximization. The second condition is that total spending on both goods must equal the amount available to be spent.
Textbook 
Microeconomics

Microeconomics


Edition: 7th
Authors:
Read 93 times
1 Reply
Replies
Answer verified by a subject expert
DWFG2796DWFG2796
wrote...
#1
Posts: 368
Rep: 49 0
5 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here

Related Topics

shaerovira Author
wrote...

5 years ago
Thanks for your help!!
paulinaibarra98
wrote...

Yesterday
Good timing, thanks!
Katey_maree
wrote...

2 hours ago
Thanks
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  1275 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 80
  
 301
  
 695
Your Opinion
Which is the best fuel for late night cramming?
Votes: 145
Previous poll results: Which of the following is the best resource to supplement your studies: