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Author Question: If the marginal utility per dollar spent on Good X exceeds that of Good Y, the utility-maximizing ... (Read 146 times)

sjones

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on: Jun 30, 2018
If the marginal utility per dollar spent on Good X exceeds that of Good Y, the utility-maximizing consumer should:
 a. buy less of Good X and more of Good Y.
  b. buy less of Good Y and more of Good X.
  c. buy more of both Good X and Good Y.
  d. buy less of both Good X and Good Y.

Question 2

If a resource is purchased and sold in a perfectly competitive market:
 a. there are a large number of resource suppliers and the resources are identical.
  b. there is a single buyer of resource and the resources are identical.
  c. there is a single buyer of resource and the resources are differentiated.
  d. there are a large number of resource suppliers and the resources are differentiated.
  e. there are a large number of resource suppliers and there is no entry or exit.


BAOCHAU2803

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Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

a


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