Thursday

January 29, 2015

January 29, 2015

Posted by **christina** on Monday, October 19, 2009 at 10:39am.

- economics -
**economyst**, Monday, October 19, 2009 at 11:22amTo maximize utility, a consumer should purchase the item that provides the highest marginal utility per dollar. Then the next highest, then the next highest until the consumer runs out of money.

So divide the MUs by the price and keep picking items until you run out of money.

I get the consumer will choose 2.667 lbs tbone and 2 lbs ground round OR 2.333 lbs tbone and 3 lbs ground round. (both answers give the same total utility)

**Answer this Question**

**Related Questions**

Physics - I am a little confused about kinetic and potential energy regarding ...

math - 6 runners run in a 500 yard dash. Prizes are awarded for 1st, 2nd, and ...

science - Is venus the 1st, 2nd, 3rd, 4th, 5th, 6th, 7th, 8th or 9th smallest ...

Math.G.P - The 1st term of a G.P is equal to x-2,the 3rd term is x+6 and the ...

Mathematrics - Each diagram in the sequence is obtained by drawing of a 1 unit ...

Grammar Advisor - I just cannot figure out if these answers are correct or not. ...

conditional sentence - 1. If the sound system hadn't failed,last night's show ...

mathematics - find the number in an A.P such that the sum of 1st and 3rd term is...

calculus - 1st digit is square root of 2nd digit 2nd digit is square of 1st sum ...

Java help please - I am trying to run the following program and am getting this ...