31. Every day Noora spends her lunch money consuming apples, at RODeach, and oranges, at RO2 cach. At her current level of consumption, Noora's marginal utility of apples is 12 and her marginal utility of oranges is If she has already spent all of her lunch molfey, how should Noora change her consumption decision to maximize utility? a. She should make no changes; she is consuming the utility maximizing combination of apples and oranges. b.) She should increase her apple consumption and decrease her orange consumption until the marginal utility per dollar is equal for both. c. She should decrease her apple consumption and increase her orange consumption until the marginal utility per dollar is equal for both. d. She should increase her apple consumption and increase her orange consumption until the marginal utility is egual for both.
31. Every day Noora spends her lunch money consuming apples, at RODeach, and oranges, at RO2 cach. At her current level of consumption, Noora's marginal utility of apples is 12 and her marginal utility of oranges is If she has already spent all of her lunch molfey, how should Noora change her consumption decision to maximize utility? a. She should make no changes; she is consuming the utility maximizing combination of apples and oranges. b.) She should increase her apple consumption and decrease her orange consumption until the marginal utility per dollar is equal for both. c. She should decrease her apple consumption and increase her orange consumption until the marginal utility per dollar is equal for both. d. She should increase her apple consumption and increase her orange consumption until the marginal utility is egual for both.
Chapter10: Consumer Choice Theory
Section: Chapter Questions
Problem 8P
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