The following table shows the marginal utility per dollar of apples and pears for five consumers: Consumer Marginal Utility Per Dollar Apples Pears Darnell 8 5 Eleanor 7 8 Jacques 6 6 Kyoko 5 4.5 Musashi 4 4 Darnell, Eleanor, and Kyoko are not optimizing over their choice of fruit. In the following table, indicate which fruit each consumer should increase consumption of in order to achieve the optimal fruit consumption bundle. Consumer Apples Pears Darnell Eleanor Kyoko
The following table shows the marginal utility per dollar of apples and pears for five consumers: Consumer Marginal Utility Per Dollar Apples Pears Darnell 8 5 Eleanor 7 8 Jacques 6 6 Kyoko 5 4.5 Musashi 4 4 Darnell, Eleanor, and Kyoko are not optimizing over their choice of fruit. In the following table, indicate which fruit each consumer should increase consumption of in order to achieve the optimal fruit consumption bundle. Consumer Apples Pears Darnell Eleanor Kyoko
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter6: Consumer Choice Theory
Section: Chapter Questions
Problem 4SQP
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Question
The following table shows the marginal utility per dollar of apples and pears for five consumers:
|
Consumer
|
Marginal Utility Per Dollar
|
|
|---|---|---|
|
Apples
|
Pears
|
|
| Darnell | 8 | 5 |
| Eleanor | 7 | 8 |
| Jacques | 6 | 6 |
| Kyoko | 5 | 4.5 |
| Musashi | 4 | 4 |
Darnell, Eleanor, and Kyoko are not optimizing over their choice of fruit.
In the following table, indicate which fruit each consumer should increase consumption of in order to achieve the optimal fruit consumption bundle.
|
Consumer
|
Apples
|
Pears
|
|
|---|---|---|---|
| Darnell |
|
|
|
| Eleanor |
|
|
|
| Kyoko |
|
|
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