Business
Business, 03.07.2020 18:01, rylee338

Answer the question on the basis of the following two schedules which show the amounts of additional satisfaction (marginal utility) which a consumer would get from successive quantities of products J and K. units of J MUj units of K MUk
1 56 1 32
2 48 2 28
3 32 3 24
4 24 4 20
5 20 5 12
6 16 6 10
7 12 7 8
Refer to the above data. If the consumer has a money income of $52 and the prices of J and K are $8 and $4 respectively, the consumer will maximize her utility by purchasing:
a. 3 units of J and 3 units of K.
b. 1 unit of J and 3 units of K.
c. 4 units of J and 1 unit of K.
d. 2 units of J and 3 units of K

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Answers: 2

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