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April 25, 2015

Homework Help: Economics

Posted by Jamie on Saturday, November 28, 2009 at 2:57pm.

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 last pound of cheese added 40 units.
Is bridget making the utility-maximizing choice? Why or why not?
If not, what should she do instead? Why?

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