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shayeshaye00 shayeshaye00
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5 years ago

Question 1.

Using the utility-optimizing model, which of the following would induce a consumer to increase consumption of good A, a normal good?

• an increase in the marginal utility of A

• an increase in the marginal utility of good B

• a decrease in the total utility of B

• a decrease in income

Question 2.

A consumer's optimum is found when

• the total utility of each good is the same and the total income is spent.

• the marginal utility of the last dollar spent equals zero for each good.

• the marginal utility of each good is increasing and the total income is spent.

• the marginal utility of the last dollar spent on each good is the same and all income is spent.
Textbook 
Economics Today: The Micro View

Economics Today: The Micro View


Edition: 19th
Author:
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abonaccorso1abonaccorso1
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5 years ago
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shayeshaye00 Author
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#2
5 years ago
Good timing, thanks!
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