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Assume that for a given consumer, the marginal utility of wine is 100 and the price of wine is $60. ...

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Assume that for a given consumer, the marginal utility of wine is 100 and the price of wine is $60. ...

Assume that for a given consumer, the marginal utility of wine is 100 and the price of wine is $60. Also, assume that the marginal utility of lobster is 200 and the price of lobster is $100. This consumer

• is in equilibrium.

• should buy more wine.

• should buy more lobster.

• can't tell; insufficient information given to answer the question

Textbook

Introduction to Agricultural Economics

Edition: 7^th

Authors: Penson, Rosson, Woodward

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Ilovebacon22 Author

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Correct

patod1

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Tim0301

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I appreciate what you did here, answered it right Smiling Face with Open Mouth

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