Suppose mary is in consumer equilibrium the marginal


Question: Suppose Mary is in consumer equilibrium. The marginal utility of good A is 30, and the price of good A is $2.

a. If the price of good B is $4, the price of good C is $3, the price of good D is $1, and the price of all other goods and services is $5, what is the marginal utility of each of the goods Mary is purchasing?

b. If Mary has chosen to keep $10 in savings, what is the ratio of MU to P for savings?

Request for Solution File

Ask an Expert for Answer!!
Macroeconomics: Suppose mary is in consumer equilibrium the marginal
Reference No:- TGS02288683

Expected delivery within 24 Hours