Melissa currently spends all her income and consumes only two goods: apples and bananas. Melissa’s optimal bundle is 10
Posted: Thu May 19, 2022 8:46 am
Melissa currently spends all her income and consumes only two
goods: apples and bananas. Melissa’s optimal bundle is 10 pounds of
apples and 20 pounds of bananas. Apples cost $4 per pound and
bananas cost $3 per pound. Which one of the following statements is
most consistent with Melissa having chosen optimally?
- Melissa’s budget was $120
- At the optimal level of consumption, Melissa’s marginal
utility is 16 utils for apples and 12 utils for bananas.
- At the optimal level of consumption, Melissa’s marginal
utility is 8 utils for apples and 9 utils for bananas.
- At the optimal level of consumption, Melissa’s marginal
utility is 3 utils for apples and 4 utils for bananas.
goods: apples and bananas. Melissa’s optimal bundle is 10 pounds of
apples and 20 pounds of bananas. Apples cost $4 per pound and
bananas cost $3 per pound. Which one of the following statements is
most consistent with Melissa having chosen optimally?
- Melissa’s budget was $120
- At the optimal level of consumption, Melissa’s marginal
utility is 16 utils for apples and 12 utils for bananas.
- At the optimal level of consumption, Melissa’s marginal
utility is 8 utils for apples and 9 utils for bananas.
- At the optimal level of consumption, Melissa’s marginal
utility is 3 utils for apples and 4 utils for bananas.