Table 21-3
Ethan consumes two goods, milk and pretzels. Milk costs $2 per glass, and he consumes it to the point where the marginal utility he receives from his last glass of milk is 6. Pretzels cost $4 per bag. The relationship between the marginal utility Ethan gets from eating a bag of pretzels and the number of bags he eats per month is as follows:
-Samantha is maximizing total utility while consuming food and clothing. Her marginal utility from food is 50, and her marginal utility from clothing is 25. If clothing is priced at $10 per unit, the price of food per unit must be
A) $2.
B) $2.50.
C) $5.
D) $20.
Correct Answer:
Verified
Q171: If Priscilla regards cheese and crackers as
Q172: Figure 21-11 Q173: A good is a normal good if Q174: Suppose William can choose between the consumption Q175: Table 21-2
A consumer likes two goods: