The marginal utility for shoes and coffee is given below for five individuals. A pair of shoes costs $2, and a cup of coffee costs $1. Marginal Utility of Shoes Marginal Utility of Coffee Michelle 12 6 Renee 6 6 Douglas 6 3 Paul 3 6 Shannon 12 3 a. Which of these consumers are optimizing over their choices? Explain b. For those who are not, how should they adjust their spending?

Principles of Economics, 7th Edition (MindTap Course List)
7th Edition
ISBN:9781285165875
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter21: The Theory Of Consumer Choice
Section: Chapter Questions
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The marginal utility for shoes and coffee is given below for five individuals. A pair of shoes costs $2, and a cup of coffee costs $1. Marginal Utility of Shoes Marginal Utility of Coffee Michelle 12 6 Renee 6 6 Douglas 6 3 Paul 3 6 Shannon 12 3 a. Which of these consumers are optimizing over their choices? Explain b. For those who are not, how should they adjust their spending?
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