five consumers have the following marginal utility of apples and pears:
jerry:12
george:6
Elaine:6
Kramer:3
Newman:12
Marginal Utility Utility of pears..
jerry:6
george:6
Elaine:3
Kramer:6
Newman:3
The price of an apple is $2 and the price of a pear is $1.
Which, if any, of these consumers are optimizing over their choice of fruit?
Homework Answers
Jerry and Elaine are optimizing their choice of fruit.
> For those who are not, how should they change their spending?
Abeeha kazim Tue, Apr 27, 2021 1:11 PM
George,6/6<2/1, less optimum
Elaine, 6/3=2/1, maximum
Kramer,3/6<2/1, less optimum
Newman,12/3>2/1, over maximum
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> Can you tell me full answer in detail?
Abeeha kazim Tue, Apr 27, 2021 1:08 PM