Joe hae $49 to mpend on apples and oranges. Given the informaion in the following table, is Joe madmizing utility? Marginal Utility of Last Unit 音 Total Utility 1,250 1,200 Product Apples Oranges Price $0.50 $0.60 Quantity 50 lbs. 40 lbs. 25 30 Joe's marginal utility per dollar spent on apples is units of ublity per dollar. Joe's marginal utility per dollar spent on oranges is The total amount of his income Joes spends on apples and oranges is units of utility per dollar. dollars.
Joe hae $49 to mpend on apples and oranges. Given the informaion in the following table, is Joe madmizing utility? Marginal Utility of Last Unit 音 Total Utility 1,250 1,200 Product Apples Oranges Price $0.50 $0.60 Quantity 50 lbs. 40 lbs. 25 30 Joe's marginal utility per dollar spent on apples is units of ublity per dollar. Joe's marginal utility per dollar spent on oranges is The total amount of his income Joes spends on apples and oranges is units of utility per dollar. dollars.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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