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A) B) MUx = MUY C) D) MUx × Px = MUỵ × Py Y MUX/Py = MUY/Px MUX/Px = MUY/Py

A) B) MUx = MUY C) D) MUx × Px = MUỵ × Py Y MUX/Py = MUY/Px MUX/Px = MUY/Py

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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I need help with #69 please 

6:45 ∞oundary solutions arise when | 69% A) a good provides a consumer with little value per dollar relative to other alternatives. B) a consumer has a very low level of income. C) indifference curves are convex. D) indifference curves exhibit increasing MRS. 68) Whenever a consumer purchases good X but not good Y, then A) MRSxy ≥ Px/Py at the chosen bundle. B) C) MRSxy= Px/Py at the chosen bundle. D) MRSxy=-Px/Py at the chosen MRSxy ≤ Px/Py at the chosen bundle. bundle. 69) Which of the following conditions is most consistent with a consumer maximizing her utility? A) MUX × Px = MUY × Py B) MUX = MUY C) MUx/Py = MUY/Px D) MUX/Px = MUY/Py 70) Mike's income is $600 per month. He spends all of it on books (B) and CDs (C). Books cost $10 and CDs cost $15. His preferences correspond to the utility function U(B,C) = B × C. For that utility function, the marginal benefit of books is C and the marginal benefit of CDs is B
Transcribed Image Text:6:45 ∞oundary solutions arise when | 69% A) a good provides a consumer with little value per dollar relative to other alternatives. B) a consumer has a very low level of income. C) indifference curves are convex. D) indifference curves exhibit increasing MRS. 68) Whenever a consumer purchases good X but not good Y, then A) MRSxy ≥ Px/Py at the chosen bundle. B) C) MRSxy= Px/Py at the chosen bundle. D) MRSxy=-Px/Py at the chosen MRSxy ≤ Px/Py at the chosen bundle. bundle. 69) Which of the following conditions is most consistent with a consumer maximizing her utility? A) MUX × Px = MUY × Py B) MUX = MUY C) MUx/Py = MUY/Px D) MUX/Px = MUY/Py 70) Mike's income is $600 per month. He spends all of it on books (B) and CDs (C). Books cost $10 and CDs cost $15. His preferences correspond to the utility function U(B,C) = B × C. For that utility function, the marginal benefit of books is C and the marginal benefit of CDs is B
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