Multiple Choice
Suppose the marginal utility (MU) of a paperback books is 60 utils and each book costs $10, while the MU of a hamburger is 50 utils and each costs $7.50. If you consume one movie and buy one hamburger per week, are you attaining consumer equilibrium?
A) Yes, so there is no need to change.
B) No.You need to buy more books and fewer hamburgers to move toward consumer equilibrium.
C) No.You need to buy more hamburgers and fewer books to move toward consumer equilibrium.
D) There is not enough information to answer the question.
Correct Answer:
Verified
Correct Answer:
Verified
Q151: If Smith will give up three units
Q152: Exhibit 20-3<br><br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6992/.jpg" alt="Exhibit 20-3
Q153: Because there are so few diamonds in
Q154: Given that MU<sub>X</sub>/P<sub>X</sub> < MU<sub>Y</sub>/P<sub>Y</sub>, consumers who
Q155: As presented in the textbookbook, research by
Q157: Which of the following is true?<br>A)It is
Q158: Suppose you just finished your third plateful
Q159: The MU/P ratio for good X is
Q160: If the marginal utility of a good
Q161: There are two goods, X and Y,