Multiple Choice
A utility-maximizing consumer is currently spending all of his/her income on two products, A and B. The MU of the last unit of A consumed is 50, the price of A is $25, and the price of B is $10. The MU of the last unit of B consumed is:
A) 50.
B) 5.
C) 2.
D) 20.
Correct Answer:
Verified
Correct Answer:
Verified
Q24: The demand curve is downward-sloping because of
Q25: Consumer equilibrium exists when:<br>A) the marginal utility
Q26: Greg spends his entire budget on two
Q27: On Thanksgiving, Jake's mother gives him a
Q28: As a general rule, marginal utility will
Q30: Assume the price of Coca-Cola increases. As
Q31: Suppose that for Merv the marginal utility
Q33: Assume that an individual consumes only coffee
Q34: Exhibit 6-6 Marginal utility for data for
Q204: When the price of a good falls,