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Author Question: A utility-maximizing consumer who is considering two goods, x and y, would allocate her budget in ... (Read 74 times)

Haya94

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on: Jul 1, 2018
A utility-maximizing consumer who is considering two goods, x and y, would allocate her budget in such a way that
 a. MUx = MUy
  b. MUx > MUy
  c. MUx/Px > MUy/Py
  d. MUx/Px = MUy/Py
  e. MUx/Px < MUy/Py

Question 2

When income is allocated to two goods, x and y, consumer equilibrium occurs when
 a. MUx = MUy
  b. MUx = MUy, and the budget is exhausted
  c. MUx/Py = PUx/Py
  d. MUx/Py = PUx/Py, and some money is not spent
  e. MUx/Py = PUx/Py, and the budget is exhausted


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rnehls

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

D

Answer to Question 2

E


Haya94

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Reply 2 on: Jul 1, 2018
Thanks for the timely response, appreciate it

Bigfoot1984

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  • Posts: 321
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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