Kylie spends her income on books and sandwiches. Books cost $50 and sandwiches cost $10. If Kylie is maximizing her utility, what is the MRS of books for sandwiches? O 500 0.5 O 50 O 5 Good X and good Y are perfect substitutes. The price of good X is $2, the price of good Y is $1, and your income to spend on good X and Y is $20. Which of the following will maximize your utility? buying all Y buying all X O buying some X and some Y purchasing good Z

Kylie spends her income on books and sandwiches. Books cost $50 and sandwiches cost $10. If Kylie is maximizing her utility, what is the MRS of books for sandwiches? O 500 0.5 O 50 O 5 Good X and good Y are perfect substitutes. The price of good X is $2, the price of good Y is $1, and your income to spend on good X and Y is $20. Which of the following will maximize your utility? buying all Y buying all X O buying some X and some Y purchasing good Z

ECON MICRO

5th Edition

ISBN:9781337000536

Author:William A. McEachern

Publisher:William A. McEachern

Chapter6: Consumer Choice And Demand

Section: Chapter Questions

Problem 2.5P

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Who determines how much utility an individual will receive from consuming a good?
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QUESTION 7 Carl's Marginal Utility for consuming beer and pizza with $8.00 in income Quantity Marginal of Hotdogs Utility 45 Quantity of Marginal Utility 40 Beer 1 40 40 30 35 4. 15 4. 10 -5 In the above table, how many hotdogs and beers will Carl consume if the price of one hotdog is $2.00 and the price of a beer is $2.00? O 1 hotdog and 3 beers O 2 hotdogs and 3 beers O 2 hotdogs and 2 beers O 3 hotdogs and 1 beer
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