You drink only Coffee or Orange juice Price of Coffee (dollars per cup) Marginal Utility of Coffee (for 1st cup) Price of Orange Juice (dollars per glass) Marginal Utility of Orange Juice (for 1st glass) $3 60 $2 50   a)     Calculate the MU per dollar for Coffee b)     Calculate the MU per dollar for Orange Juice c)       If you have 1 cup of Coffee and 1 glass of Orange juice, are you in Equilibrium? Explain briefly. d)      If not, how should you change your consumption of these 2 items?

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A: Part a) MU per dollar for coffee = MU of coffee / price of coffee = 60/3= 20.

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Q: utility

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