Five consumers have the following marginal utility of apples and pears: The price of an apple is

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Five consumers have the following marginal utility of apples and pears:

Marginal Utility Marginal Utility of Apples of Pears Claire... ..6... .12 Phil.... .6.. ..6 Haley.. .6.. .3 Alex.... .6

The price of an apple is $1, and the price of a pear is $2. Which, if any, of these consumers are optimizing over their choice of fruit? For those who are not, how should they change their spending?

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Principles of Economics

ISBN: 978-1305585126

8th edition

Authors: N. Gregory Mankiw

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Question Posted: Aug 04, 2017 09:44 AM

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Five consumers have the following marginal utility of apples and pears: The price of an apple is $1, and the price of a pear is $2. Which, if any, of these consumers are optimizing over their choice...
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Five consumers have the following marginal utility of apples and pears: The price of an apple is

Question:

Marginal Utility Marginal Utility of Apples of Pears Claire... ..6... .12 Phil.... .6.. ..6 Haley.. .6.. .3 Alex.... .6 Luke... 3.. 12

Step by Step Answer:

Utility is maximized when the marginal utility per ...View the full answer

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