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Author Question: Ellen is spending her entire income on goods X and Y. Her marginal utility from the last units of X ... (Read 68 times)

Marty

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  • Posts: 553
on: Apr 19, 2019

Question 1

Sue is maximizing her utility. Her 
MU
x/
P
x = 10 and 
MU
y = 40. Then the price of Y must be


◦ $1.
◦ $4.
◦ $10.
◦ $40.

Question 2

Ellen is spending her entire income on goods X and Y. Her marginal utility from the last units of X and Y that she consumes is 25. Ellen's utility is only maximized if


◦ the prices of X and Y are the same.
◦ the price of good X is twice that of good Y.
◦ the price of good Y is twice that of good X.
◦ We cannot determine whether Ellen is maximizing her utility.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
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Marked as best answer by Marty on Apr 19, 2019

millet

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Reply #1 on: Apr 19, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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Marty

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Reply 2 on: Apr 19, 2019
YES! Correct, THANKS for helping me on my review

bulacsom

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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