The marginal utilities derived from each product are as follows. Number of MU of apples MU of oranges units 1 12 30 2 10 27 3 8 24 4 21 4 18 2 15 7 1 12 An individual is given $15 of pocket money to be spent on either apples or oranges. The price of an apple is $1 and the price of an oranges $3. The consumer will maximize her utility by purchasing 3 apples and 4 oranges 6 apples and 3 oranges O 15 apples and O oranges O O apples and 5 oranges 12 apples and 1 orange O9 apples and 2 oranges 61
The marginal utilities derived from each product are as follows. Number of MU of apples MU of oranges units 1 12 30 2 10 27 3 8 24 4 21 4 18 2 15 7 1 12 An individual is given $15 of pocket money to be spent on either apples or oranges. The price of an apple is $1 and the price of an oranges $3. The consumer will maximize her utility by purchasing 3 apples and 4 oranges 6 apples and 3 oranges O 15 apples and O oranges O O apples and 5 oranges 12 apples and 1 orange O9 apples and 2 oranges 61
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
1
![The marginal utilities derived from each product
are as follows.
Number of
MU of apples
MU of oranges
units
1
12
30
2
10
27
8
24
4
21
4
18
6
2
15
7
1
12
An individual is given $15 of pocket money to be
spent on either apples or oranges. The price of an
apple is $1 and the price of an oranges $3. The
consumer will maximize her utility by purchasing
O 3 apples and 4 oranges
O 6 apples and 3 oranges
15 apples and 0 oranges
O O apples and 5 oranges
O 12 apples and 1 orange
O9 apples and 2 oranges](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0754d674-8f86-4c95-8e67-bf890aa6ea6d%2F33a5c524-09f8-4fe3-b40e-ea9d13a806bf%2Fak5s548_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The marginal utilities derived from each product
are as follows.
Number of
MU of apples
MU of oranges
units
1
12
30
2
10
27
8
24
4
21
4
18
6
2
15
7
1
12
An individual is given $15 of pocket money to be
spent on either apples or oranges. The price of an
apple is $1 and the price of an oranges $3. The
consumer will maximize her utility by purchasing
O 3 apples and 4 oranges
O 6 apples and 3 oranges
15 apples and 0 oranges
O O apples and 5 oranges
O 12 apples and 1 orange
O9 apples and 2 oranges
![Refer to the consumer's utility data below. Which
of the statement is true.
Total Marginal
consumed utility utility
Units
1
12
A
2
В
10
3
30
C
4
6
F
4
C is 6 and F is 36
C is 7 and F is 39
C is 8 and F is 40
O C is 8 and F is 36](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0754d674-8f86-4c95-8e67-bf890aa6ea6d%2F33a5c524-09f8-4fe3-b40e-ea9d13a806bf%2Fb9lwxsn_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Refer to the consumer's utility data below. Which
of the statement is true.
Total Marginal
consumed utility utility
Units
1
12
A
2
В
10
3
30
C
4
6
F
4
C is 6 and F is 36
C is 7 and F is 39
C is 8 and F is 40
O C is 8 and F is 36
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