Question:

Pls help microeconomics?

by  |  earlier

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If a consumer derives more utility by spending an additional $1 on good X rather than on good Y, then

MUx/Px > MUy/Py

MUx/Px = MUy/Py

MUx/Px < MUy/Py

Px/MUx > Py/MUy

Assume that a person is consuming the utility-maximizing quantities of pork and chicken. We can conclude that

the price of pork equals the price of chicken

the marginal utility of pork equals the marginal utility of chicken

the ratio of the marginal utility to price is the same for pork and for chicken

both A and B are true

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3 ANSWERS


  1. i think A for #1.

    and C for #2.


  2. 1. A

    2. C

  3. 1 A) - MUx/Px &gt; MUy/Py

    2 C) - the ratio of the marginal utility to price is the same for pork and for chicken

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