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August 22, 2014

Homework Help: Manageral Economics (Economyst Only Please)

Posted by raja on Saturday, October 16, 2010 at 11:07am.

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. a. Is Bridget making the utility- maximizing choice? Why or why not? b. If not, what should she do instead? Why?

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