Answer the next questions on the basis of the following marginal utility (MU) data for products X and Y. Assume that the prices of X and Y are JD 2 and JD 2 respectively and that the consumer's income is JD 18. Units Marginal Utility of X Units Marginal Utility of Y of X of Y 1 20 1 16 16 14 12 3 12 4. 4 10 8 6. 4 6 4 8 zero 5979

ECON MICRO
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ISBN:9781337000536
Author:William A. McEachern
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Chapter6: Consumer Choice And Demand
Section: Chapter Questions
Problem 2.5P
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Answer the next questions on the basis of the following marginal utility (MU) data for products X and Y. Assume that the prices of X and Y are JD 2 and JD 2
respectively and that the consumer's income is JD 18.
Units
Marginal Utility
Units
Marginal Utility
of Y
of X
of X
of Y
1
20
1
16
2
16
2
14
12
12
4
4
10
8
4
6.
6
7
4.
8
zero
8
Transcribed Image Text:Answer the next questions on the basis of the following marginal utility (MU) data for products X and Y. Assume that the prices of X and Y are JD 2 and JD 2 respectively and that the consumer's income is JD 18. Units Marginal Utility Units Marginal Utility of Y of X of X of Y 1 20 1 16 2 16 2 14 12 12 4 4 10 8 4 6. 6 7 4. 8 zero 8
1. the consumer will be in equilibrium by purchasing:
А.
2 of X and 5 of Y
В.
4 of X and 6 of Y
6 of X and 3 of Y
С.
D.
4 of X and 5 of Y
Transcribed Image Text:1. the consumer will be in equilibrium by purchasing: А. 2 of X and 5 of Y В. 4 of X and 6 of Y 6 of X and 3 of Y С. D. 4 of X and 5 of Y
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