Alicia consumes goods X and Y. At her current consumption bundle, Alicia's marginal utility of the two goods are MUX-39 utils/unit and MUY-39 utils/unit. The prices of two goods are PX-$19/unit and PY-$15/unit. Please find the marginal utility per dollar of the good to which Alicia should reallocate more money. [Hints/Example)

Alicia consumes goods X and Y. At her current consumption bundle, Alicia's marginal utility of the two goods are MUX-39 utils/unit and MUY-39 utils/unit. The prices of two goods are PX-$19/unit and PY-$15/unit. Please find the marginal utility per dollar of the good to which Alicia should reallocate more money. [Hints/Example)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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