EBK ECONOMICS FOR TODAY
9th Edition
ISBN: 8220101414250
Author: Tucker
Publisher: Cengage Learning US
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Question
Chapter 6, Problem 4SQ
To determine
Consumption of rational consumers.
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Mr. Max is about to purchase 4 units of good A and 6 units of good B. The price of both A and B is $2.
Mr. Max has only $20 to spend. If the marginal utility of the fourth unit of A is 12 and the marginal
utility of the sixth unit of B is 12, then:
a. he should not buy anything.
b. he should buy more of A and less of B.
c. he should buy less of A and more of B.
d. he should buy A and B in the quantities indicated.
e. he should buy more of A and little more than that of B.
If a consumer's marginal utility was 10 utils per unit of meat and 5 utils per unit of potatoes:
a. the consumer should purchase less potatoes and more meat to maximize his satisfaction.
b. the consumer would be in equilibrium if the per-unit price of meat was twice the price of potatoes.
c. the consumer would be in equilibrium if the price per unit of meat was half the price of potatoes.
d. the consumer's total utility could be increased by consuming more potatoes and less meat until the marginal utilities of the two goods were equal.
Given the market price of a good, how does a consumer decide as to how many units of that good to buy? Explain
Chapter 6 Solutions
EBK ECONOMICS FOR TODAY
Ch. 6.1 - Prob. 1YTECh. 6.1 - Prob. 2YTECh. 6.2 - Prob. 1YTECh. 6.A - Prob. 1SQPCh. 6.A - Prob. 2SQPCh. 6.A - Prob. 3SQPCh. 6.A - Prob. 1SQCh. 6.A - Prob. 2SQCh. 6.A - Prob. 3SQCh. 6.A - Prob. 4SQ
Ch. 6.A - Prob. 5SQCh. 6.A - Prob. 6SQCh. 6.A - Prob. 7SQCh. 6.A - Prob. 8SQCh. 6.A - Prob. 9SQCh. 6.A - Prob. 10SQCh. 6.A - Prob. 11SQCh. 6.A - Prob. 12SQCh. 6.A - Prob. 13SQCh. 6.A - Prob. 14SQCh. 6.A - Prob. 15SQCh. 6 - Prob. 1SQPCh. 6 - Prob. 2SQPCh. 6 - Prob. 3SQPCh. 6 - Prob. 4SQPCh. 6 - Prob. 5SQPCh. 6 - Prob. 6SQPCh. 6 - Prob. 7SQPCh. 6 - Prob. 8SQPCh. 6 - Prob. 9SQPCh. 6 - Prob. 10SQPCh. 6 - Prob. 1SQCh. 6 - Prob. 2SQCh. 6 - Prob. 3SQCh. 6 - Prob. 4SQCh. 6 - Prob. 5SQCh. 6 - Prob. 6SQCh. 6 - Prob. 7SQCh. 6 - Prob. 8SQCh. 6 - Prob. 9SQCh. 6 - Prob. 10SQCh. 6 - Prob. 11SQCh. 6 - Prob. 12SQCh. 6 - Prob. 13SQCh. 6 - Prob. 14SQCh. 6 - Prob. 15SQCh. 6 - Prob. 16SQCh. 6 - Prob. 17SQCh. 6 - Prob. 18SQCh. 6 - Prob. 19SQCh. 6 - Prob. 20SQ
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