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July 5, 2015

Homework Help: Math

Posted by Andrew on Sunday, August 30, 2009 at 9:46am.

Bridget has a limited income and consumes only wine and cheese; her current consumption 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 las pound of cheese added 40 units
a. Is Bridget making the utility-maximizing choice, Why or Why not?
b. If not, what should she do instead?

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