Solved

Answer the Question on the Basis of the Following Two

Question 185

Multiple Choice

Answer the question on the basis of the following two schedules, which show the amounts of additional satisfaction (marginal utility) that a consumer would get from successive quantities of products J and K. Answer the question on the basis of the following two schedules, which show the amounts of additional satisfaction (marginal utility) that a consumer would get from successive quantities of products J and K.   If the consumer's money income were cut from $52 to $28, and the prices of J and K remain at $8 and $4, respectively, she would maximize her satisfaction by purchasing A) 3 units of J and 3 units of K. B) 1 unit of J and 3 units of K. C) 4 units of J and 1 unit of K. D) 2 units of J and 3 units of K. If the consumer's money income were cut from $52 to $28, and the prices of J and K remain at $8 and $4, respectively, she would maximize her satisfaction by purchasing


A) 3 units of J and 3 units of K.
B) 1 unit of J and 3 units of K.
C) 4 units of J and 1 unit of K.
D) 2 units of J and 3 units of K.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions