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Each week, Lydia consumes wine and cheese, and spends her maximum allocated income on these goods. The price of wine is $10 per glass, and
Each week, Lydia consumes wine and cheese, and spends her maximum allocated income on these goods. The price of wine is $10 per glass, and the price of a serving of cheese is $8. Based on this week's consumption, Lydia's marginal utility of wine is 30, and her marginal utility of cheese is 16. Given this information, did Lydia maximize her utility subject to her budget? Group of answer choices Yes, Lydia maximized her utility. No. Lydia should have spent more money on wine and less money on cheese. No. Lydia should have spent less money on both wine and cheese. No. Lydia should have spent more money on cheese and less money on wine
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