I need help with #69 please 6:45 ∞oundary solutions arise when| 69%A) a good provides a consumer withlittle value per dollar relative toother alternatives.B) a consumer has a very low level ofincome.C) indifference curves are convex.D) indifference curves exhibitincreasing MRS.68) Whenever a consumer purchases good Xbut not good Y, thenA) MRSxy ≥ Px/Py at the chosenbundle.B)C) MRSxy= Px/Py at the chosenbundle.D) MRSxy=-Px/Py at the chosenMRSxy ≤ Px/Py at the chosenbundle.bundle.69) Which of the following conditions is mostconsistent with a consumer maximizingher utility?A) MUX × Px = MUY × PyB) MUX = MUYC)MUx/Py = MUY/PxD) MUX/Px = MUY/Py70) Mike's income is $600 per month. Hespends all of it on books (B) and CDs (C).Books cost $10 and CDs cost $15. Hispreferences correspond to the utilityfunction U(B,C) = B × C. For that utilityfunction, the marginal benefit of books isC and the marginal benefit of CDs is B

It's a core concept in economics that describes how individuals or organizations aim to achieve the…

Answered: A) B) MUx = MUY C) D) MUx × Px = MUỵ ×…

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

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

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

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