Suppose you are consuming two goods, A and B. Your marginal utility from good A is 40 while your marginal utility from good B is 5. In addition, good A costs $32.00 each and good B costs $4.00 each. a. According to the utility-maximizing rule, you are maximizing your total utility b. You should consume: Instructions: In order to receive full credit, you must make a selection for each option. For correct answer(s), click the box once to place a check mark. For incorrect answer(s), click the option twice to empty the box. ? the same amount of good A. ? the same amount of good B. ? more of good B. |? more of good A.

Suppose you are consuming two goods, A and B. Your marginal utility from good A is 40 while your marginal utility from good B is 5. In addition, good A costs $32.00 each and good B costs $4.00 each. a. According to the utility-maximizing rule, you are maximizing your total utility b. You should consume: Instructions: In order to receive full credit, you must make a selection for each option. For correct answer(s), click the box once to place a check mark. For incorrect answer(s), click the option twice to empty the box. ? the same amount of good A. ? the same amount of good B. ? more of good B. |? more of good A.

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter7: Demand And Supply

Section7.1: Demand

Problem 3R

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