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Bridget has a limited income and consumes only wine and cheese; her current con- sumption choice is four bottles of wine and 10 pounds of cheese. The price of wine is $10 per bottle, and the price of cheese is $4 per pound. The last bottle of wine added 50 units to Bridget's utility, while the last pound of cheese added 40 units.
a. Is Bridget making the utility-maximizing choice?Why or why not?
b. Ifnot,what should she do instead?Why?
Build a simulation model using the distributions you get in part A to verify whether the claim by trucking associations that the average time it takes a truck to cross the border h
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gaining comparatively at someone else''s expense
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