Exhibit 6-3 Marginal utility data for goods X and Y

As shown in Exhibit 6-3, assume that the price of both goods is $1 per total unit, and your budget is $8. If you consume 4 units of good X and 1 unit of good Y. To maximize utility, you should consume:
A) less of both X and Y.
B) more of X and less of Y.
C) less of X and more of Y.
D) more of both X and Y.

Question

Exhibit 6-3 Marginal utility data for goods X and Y

As shown in Exhibit 6-3, assume that the price of both goods is $1 per total unit, and your budget is $8. If you consume 4 units of good X and 1 unit of good Y. To maximize utility, you should consume:
A) less of both X and Y. 
B) more of X and less of Y. 
C) less of X and more of Y. 
D) more of both X and Y.

Quizplus · Accepted Answer

The Answer of Exhibit 6-3 Marginal utility data for goods X and Y

As shown in Exhibit 6-3, assume that the price of both goods is $1 per total unit, and your budget is $8. If you consume 4 units of good X and 1 unit of good Y. To maximize utility, you should consume:
A) less of both X and Y. 
B) more of X and less of Y. 
C) less of X and more of Y. 
D) more of both X and Y.

Exhibit 6-3 Marginal Utility Data for Goods X and Y