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Economics

Cole has $27 that he plans to spend purchasing 5 units of good X (priced at $3 per unit) and 6 units of good Y (priced at $2 per unit). The marginal utility of the fifth unit of X is 30, and the marginal utility of the sixth unit of Y is 30. If Cole is a utility maximizer, he should

a. buy more of X and less of Y.

b. not buy anything.

c. buy X and Y in the quantities indicated.

d. buy less of X and more of Y.

e. from the information given, it is impossible to determine whether or not Cole should increase or decrease his consumption of X and Y.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91273731

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