12. Five consumers have the following marginal utility of apples and pears: Marginal Utility Marginal Utility of Apples of Pears Claire 6 12 Phil 6 6 Haley 6 3 Alex 3 6 Luke 3 12 The price of an apple is $1, and the price of a pear is $2. Which, if any, of these consumers are optimizing their choices of fruit? For those who are not, how should they change their spending?
12. Five consumers have the following marginal utility of apples and pears: Marginal Utility Marginal Utility of Apples of Pears Claire 6 12 Phil 6 6 Haley 6 3 Alex 3 6 Luke 3 12 The price of an apple is $1, and the price of a pear is $2. Which, if any, of these consumers are optimizing their choices of fruit? For those who are not, how should they change their spending?
Principles of Economics (MindTap Course List)
8th Edition
ISBN:9781305585126
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter21: The Theory Of Consumer Choice
Section: Chapter Questions
Problem 12PA
Related questions
Question
![12. Five consumers have the following marginal utility of
apples and pears:
Marginal Utility
Marginal Utility
of Apples
of Pears
Claire
6
12
Phil
6
6
Haley
6
3
Alex
3
6
Luke
3
12
The price of an apple is $1, and the price of a pear is
$2. Which, if any, of these consumers are optimizing
their choices of fruit? For those who are not, how
should they change their spending?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fbe345e00-286f-4282-8e1d-e55b3fd0e62b%2Fb83f053f-d64e-45a3-b0a9-8bca68680f54%2Fht8jhvn_processed.png&w=3840&q=75)
Transcribed Image Text:12. Five consumers have the following marginal utility of
apples and pears:
Marginal Utility
Marginal Utility
of Apples
of Pears
Claire
6
12
Phil
6
6
Haley
6
3
Alex
3
6
Luke
3
12
The price of an apple is $1, and the price of a pear is
$2. Which, if any, of these consumers are optimizing
their choices of fruit? For those who are not, how
should they change their spending?
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