Chuck and Barry have identical total utility schedules but Chuck has a much higher income.If each is maximizing his total utility,then
A)they will have equal total utilities.
B)Chuck will have lower total utility than Barry.
C)Chuck will have lower marginal utility than Barry for each normal good consumed.
D)Chuck will have higher marginal utility than Barry for each normal good consumed.
E)they will have equal marginal utilities for each normal good consumed.

Question

Quizplus · Accepted Answer

Chuck, with a higher income, can afford to consume more of each normal good, leading to a lower marginal utility for each additional unit consumed compared to Barry, who consumes less due to lower income.

Chuck and Barry Have Identical Total Utility Schedules but Chuck