utility positive? Explain. 3. Suppose Mary is in consumer equilibrium. The marginal utility of good A is 30, and the price of good A is $2. a. If the price of good B is $4, the price of good C is $3, the price of good D is $1, and the price of all other goods and services is $5, what is the marginal utility of each of the goods Mary is purchasing? b. If Mary has chosen to keep $10 in savings, what is the ratio of MU to P for savings? 4. Using the following utility schedule, derive a demand

utility positive? Explain. 3. Suppose Mary is in consumer equilibrium. The marginal utility of good A is 30, and the price of good A is $2. a. If the price of good B is $4, the price of good C is $3, the price of good D is $1, and the price of all other goods and services is $5, what is the marginal utility of each of the goods Mary is purchasing? b. If Mary has chosen to keep $10 in savings, what is the ratio of MU to P for savings? 4. Using the following utility schedule, derive a demand

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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