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) .
Chapter10: Consumer Choice Theory
Section: Chapter Questions
Problem 8P
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