Consider imperfect substitute goods. On a graph, we know that the optimal bundle is chosen where the in What else is true at the optimal bundle? Select all that apply. The consumer chooses a bundle where MRSxy=MRTxy. The consumer chooses a bundle where MUX/Px = MUY/Py. The consumer chooses a bundle where the marginal utility per dollar spent The consumer chooses a bundle where the marginal utility is at it's highest The consumer chooses a bundle where price per unit is minimized. The consumer chooses a bundle where MUX/MUy is maximized.
Consider imperfect substitute goods. On a graph, we know that the optimal bundle is chosen where the in What else is true at the optimal bundle? Select all that apply. The consumer chooses a bundle where MRSxy=MRTxy. The consumer chooses a bundle where MUX/Px = MUY/Py. The consumer chooses a bundle where the marginal utility per dollar spent The consumer chooses a bundle where the marginal utility is at it's highest The consumer chooses a bundle where price per unit is minimized. The consumer chooses a bundle where MUX/MUy is maximized.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Question 14
Consider imperfect substitute goods.
On a graph, we know that the optimal bundle is chosen where the indifference curve just touches the budget constraint (i.e., the IC is tangent to the BC).
What else is true at the optimal bundle? Select all that apply.
The consumer chooses a bundle where MRSxy = MRTxy.
The consumer chooses a bundle where MUX/Px = MUy/Py.
The consumer chooses a bundle where the marginal utility per dollar spent on each good is equal.
The consumer chooses a bundle where the marginal utility is at it's highest for each good.
The consumer chooses a bundle where price per unit is minimized.
The consumer chooses a bundle where MUX/MUy is maximized.
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