Morty's marginal utility from consuming orange juice is 80 utils per ounce and his marginal utility from consuming coffee is 50 utils per ounce. If orange juice costs $0.20 per and coffee costs $0.20 per ounce, is Morty maximizing his total utility from the two beverages? At his current level of consumption, Morty receives utils per dollar spent on orange juice, and he receives a utils per dollar spent on coffee. Thus, is Morty maximizing his total utility? (Key in Yes or No) .
Morty's marginal utility from consuming orange juice is 80 utils per ounce and his marginal utility from consuming coffee is 50 utils per ounce. If orange juice costs $0.20 per and coffee costs $0.20 per ounce, is Morty maximizing his total utility from the two beverages? At his current level of consumption, Morty receives utils per dollar spent on orange juice, and he receives a utils per dollar spent on coffee. Thus, is Morty maximizing his total utility? (Key in Yes or No) .
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter6: Consumer Choice Theory
Section: Chapter Questions
Problem 6SQP
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