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Author Question: Suppose Enid could increase her total utility by purchasing one more book and one less video rental. ... (Read 38 times)

shofmannx20

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on: Jul 1, 2018
Suppose Enid could increase her total utility by purchasing one more book and one less video rental. Which of the following is true?
 a. The marginal utility of video rentals exceeds the marginal utility of books.
  b. The marginal utility of books exceeds the marginal utility of video rentals.
  c. The marginal utility of video rentals is negative.
  d. The marginal utility per dollar spent on books exceeds that of video rentals.
  e. Total utility is at a maximum.

Question 2

If the marginal utility of each good a consumer buys does not diminish but remains constant, we should see consumers
 a. buying no goods at all
  b. spending all of their income on the good with the highest marginal utility
  c. buying one unit of each good
  d. buying only the least expensive good
  e. leaving the store in total confusion


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Chelseyj.hasty

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

D

Answer to Question 2

B


shofmannx20

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Reply 2 on: Jul 1, 2018
Great answer, keep it coming :)

sailorcrescent

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Reply 3 on: Yesterday
:D TYSM

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