If, when a consumer spends all his income, the marginal utility per dollar on X is 4 and the marginal utility per dollar on Y is 2, has the consumer made the utility-maximizing choice?
The consumer has

Question

If, when a consumer spends all his income, the marginal utility per dollar on  X  is 4 and the marginal utility per dollar on  Y  is 2, has the consumer made the utility-maximizing choice? 
 The consumer has

Accepted Answer

not made the utility-maximizing choice, but can do so by buying more of  X  and less of  Y .

Answer

made the utility-maximizing choice.

Answer

made the utility-maximizing choice if the price of  Y  is eight times the price of  X .

Answer

not made the utility-maximizing choice, but can do so by buying less of  X  and more of  Y .

Answer

not made the utility-maximizing choice, but can do so by buying more of  Y  which is cheaper.

Crowdly

If, when a consumer spends all his income, the marginal utility per dollar on X...

Хочете миттєвий доступ до всіх перевірених відповідей на moodle.uleth.ca?