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You go to an "all-you-can-eat" buffet. If you maximize utility, the marginal utility of the last bite that you eat will be
You go to an "all-you-can-eat" buffet. If you maximize utility, the marginal utility of the last bite that you eat will bea. equal to the price of the buffetb. as high as possiblec. zerod. dependent on how much you like the buffet
my answer is A
Suzy knows she has maximized her utility, because she is on her budget constraint anda. consumption of good X equals consumption of good Yb. what is spent on good X equals what is spent on good Yc. MUx/Px = MUy/Pyd. MUx = MUy
My answer is c
Benny spends all his money buying wine and cheese. The marginal utility of the last bottle of wine is 60, and the marginal utility of the last block of cheese is 30. The price of wine is $3, and the price of cheese is $2. Bennya. is buying wine and cheese in the utility-maximizing amountsb. should buy more wine and less cheesec. should buy more cheese and less wined. is spending too much money on wine and cheese
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