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Given the marginal utility & cost for the two products A & B, justify for the utility maximizing units.

Consider two products A and B which has the same unit price. A consumer consumes some quantities of A and B and discovered that at the last unit of A his marginal utility is 45 utils while at the last unit of B his marginal utility is 52 utils. Is he maximizing his total utility? If yes, justify your answers. If no, illustrate what should he do in order to maximize total utility?

 

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M922862

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