The following questions are independent of each other: Samir consumes apples and bananas and is in consumer equilibrium. The marginal utility from his last apple is 81 and the marginal utility from his last banana is 27. If the price of an apple is $0.90, then the price of a banana is $ As one moves up a typical indifference curve, how does the marginal rate of substitution change? It The marginal rate of substitution of X for Y is 5, the price of X is $4, and the price of Y is $7. A utility-maximizing consumer should choose X and Y. The first can of Coke gives 26 units of utility to Witney, while the second can of Coke increases her total utility to 38. The marginal utility of the second can of Coke is units.
The following questions are independent of each other: Samir consumes apples and bananas and is in consumer equilibrium. The marginal utility from his last apple is 81 and the marginal utility from his last banana is 27. If the price of an apple is $0.90, then the price of a banana is $ As one moves up a typical indifference curve, how does the marginal rate of substitution change? It The marginal rate of substitution of X for Y is 5, the price of X is $4, and the price of Y is $7. A utility-maximizing consumer should choose X and Y. The first can of Coke gives 26 units of utility to Witney, while the second can of Coke increases her total utility to 38. The marginal utility of the second can of Coke is units.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:The following questions are independent of each other:
Samir consumes apples and bananas and is in consumer equilibrium.
The marginal utility from his last apple is 81 and the marginal utility from his last banana is 27.
If the price of an apple is $0.90, then the price of a banana is $
As one moves up a typical indifference curve, how does the marginal rate of substitution change?
It
The marginal rate of substitution of X for Y is 5, the price of X is $4, and the price of Y is $7.
A utility-maximizing consumer should choose
X and
Y.
The first can of Coke gives 26 units of utility to Witney, while the second can of Coke increases her total utility to 38.
The marginal utility of the second can of Coke is
units.
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