Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Five consumers have the following marginal utilities of apples and pears: Consumer Marginal Utility of Apples Marginal Utility of Pears Kenji 6 12 Lucia 6

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

Consumer Marginal Utility of Apples Marginal Utility of Pears

Kenji 6 12

Lucia 6 6

Paolo 6 6

Sharon 3 6

Van 3 12

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?Check all that apply.

Kenji

Lucia

Paolo

Sharon

Van

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Issues in Economics Today

Authors: Robert C. Guell

8th edition

1259746399, 1259746390, 978-1259746390

More Books

Students also viewed these Economics questions

Question

what are the Disability and life insurance benefits in Egypt

Answered: 1 week ago