Question
A consumer is currently purchasing three pairs of jeans and five T-shirts per year. The price of jeans is $30, and T-shirts cost $10. At
A consumer is currently purchasing three pairs of jeans and five T-shirts per year. The price of
jeans is $30, and T-shirts cost $10. At the current rate of consumption, the marginal utility of
jeans is 60, and the marginal utility of T-shirts is 30. Is this maximizing his or her
utility? Would you suggest that he buy more jeans and fewer T-shirts, or more T-shirts and fewer
jeans?
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Principles Of Microeconomics 3e By OpenStax
Authors: OpenStax
3rd Edition
1711471496, 978-1711471495
