Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter6: Consumer Choice Theory
Section: Chapter Questions
Problem 3SQP
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Question
Is it reasonable to assume that people seek to equate the
![12. Is it reasonable to assume that people seek to equate the marginal utility/price ratios of the
goods that they purchase, if they have never heard of 'utility', let alone 'marginal utility', and
marginal utility cannot be measured in any absolute way?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8d19ecff-fc4b-49f7-812f-c499cfc8abc0%2Fd1ec2faa-981b-4641-ae9f-3468e619b734%2Frid3cca_processed.jpeg&w=3840&q=75)
Transcribed Image Text:12. Is it reasonable to assume that people seek to equate the marginal utility/price ratios of the
goods that they purchase, if they have never heard of 'utility', let alone 'marginal utility', and
marginal utility cannot be measured in any absolute way?
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