Suppose that at Miles's current level of consumption, his marginal utility from a pizza is 7.5 utils, and his marginal u

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Suppose That At Miles S Current Level Of Consumption His Marginal Utility From A Pizza Is 7 5 Utils And His Marginal U 1 (19.47 KiB) Viewed 11 times

Suppose that at Miles's current level of consumption, his marginal utility from a pizza is 7.5 utils, and his marginal utility from a pint of ice cream is 6 utils. If the price of a pizza is $8.00, and the price of a pint of ice cream is $9.00, is Miles maximizing his utility? Multiple Choice No, he should shift his spending away from pizza and towards ice cream Yes, the marginal utility is less than the price for both ice cream and pizza No, he should shift his spending away from ice cream and towards pizza Yes, the marginal utility per dollar is equal for ice cream and pizza