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Author Question: If Arnold thinks his last dollar spent golfing yields less satisfaction than the last dollar spent ... (Read 95 times)

cnetterville

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on: Jul 1, 2018
If Arnold thinks his last dollar spent golfing yields less satisfaction than the last dollar spent on movies, and Arnold is a utility-maximizing consumer, he should
 a. golf more so that the total satisfaction from this activity will increase
  b. spend less on movies so that the marginal satisfaction from expenditures in this area will increase
  c. golf less and spend more on movies
  d. eliminate golfing from his schedule
  e. golf more since it costs less

Question 2

If by purchasing a little more milk and a little less ice cream you could increase your total utility,
 a. the MU of milk must be greater than that of ice cream
  b. the MU of ice cream must be greater than that of milk
  c. the MU/P of milk must be greater than that of ice cream
  d. milk must be cheaper than ice cream
  e. the MU of milk will increase


Gabe

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Reply #1 on: Jul 1, 2018
Answer to Question 1

C

Answer to Question 2

C


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