Multiple Choice
Suppose that MUY = 15, MUX = 10, PY = $2, and PX = $1. Which of the following statements is TRUE?
A) The consumer is maximizing utility.
B) The consumer could increase utility by giving up 1 unit of good Y for 2 units of good X.
C) The consumer could increase utility by giving up 2 units of good X for 1 unit of good Y.
D) The consumer is receiving more marginal utility per dollar from good Y than from good X.
Correct Answer:
Verified
Correct Answer:
Verified
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