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Author Question: If Fred's marginal utility of pizza equals 10 and his marginal utility of salad equals 2, then A) ... (Read 123 times)

Tirant22

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on: Jul 1, 2018
If Fred's marginal utility of pizza equals 10 and his marginal utility of salad equals 2, then
 
  A) he would give up 5 pizzas to get the next salad.
  B) he would give up 5 salads to get the next pizza.
  C) he will eat five times as much pizza as salad.
  D) he will eat five times as much salad as pizza.

Question 2

If two bundles are on the same indifference curve, then
 
  A) the consumer derives the same level of utility from each.
  B) the consumer derives the same level of ordinal utility from each but not the same level of cardinal utility.
  C) no comparison can be made between the two bundles since utility cannot really be measured.
  D) B and C.
Microeconomics ¦ Perloff ¦ 8th Edition
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princessflame2016

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

B

Answer to Question 2

A


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