Multiple Choice
The marginal utility of the last unit of apples consumed is 12, and the marginal utility of the last unit of bananas consumed is 8. What set of prices for apples and bananas, respectively, would be consistent with consumer equilibrium?
A) $4 and $6
B) $6 and $4
C) $8 and $12
D) $16 and $9
Correct Answer:
Verified
Correct Answer:
Verified
Q178: Use diminishing marginal utility to explain why
Q179: Answer the question on the basis of
Q180: The table shows the total utility data
Q181: Discuss the decision a criminal must make
Q182: While eating at Alex's "Pizza by the
Q184: Suppose a consumer has an income of
Q185: Answer the question on the basis of
Q186: Explain the three characteristics of utility.
Q187: The marginal utility of the last unit
Q188: Indifference curve analysis<br>A)presumes, as does utility analysis,