Alicia consumes goods X and Y. At her current consumption bundle, Alicia's marginal utility of the two goods are MUX-39 utils/unit and MUY-39 utils/unit. The prices of two goods are PX-$19/unit and PY-$15/unit. Please find the marginal utility per dollar of the good to which Alicia should reallocate more money. [Hints/Example)
Alicia consumes goods X and Y. At her current consumption bundle, Alicia's marginal utility of the two goods are MUX-39 utils/unit and MUY-39 utils/unit. The prices of two goods are PX-$19/unit and PY-$15/unit. Please find the marginal utility per dollar of the good to which Alicia should reallocate more money. [Hints/Example)
Chapter7: Consumer Choice: Maximizing Utility And Behavioral Economics
Section: Chapter Questions
Problem 6QP
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