Suppose Mary is in consumer equilibrium. The marginal utility of good A is 30, and the price of good A is $2.
a. if the price of good B is $4, the price of good C is $3, the price of good D is $1, and the price of all other goods and services is $5, what is the marginal utility of each goods mary is purchasing?
b. If mary has chosen to keep $10 in savings, what is the ratio of MU to P for savings?
OCW Scholar - Principles of Microeconomics
I got my questions answered at brainly.com in under 10 minutes. Go to brainly.com now for free help!
At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident, similique sunt in culpa qui officia deserunt mollitia animi, id est laborum et dolorum fuga.
Et harum quidem rerum facilis est et expedita distinctio. Nam libero tempore, cum soluta nobis est eligendi optio cumque nihil impedit quo minus id quod maxime placeat facere possimus, omnis voluptas assumenda est, omnis dolor repellendus.
Itaque earum rerum hic tenetur a sapiente delectus, ut aut reiciendis voluptatibus maiores alias consequatur aut perferendis doloribus asperiores repellat.
please help me
the answer involves simple mathematical equation which i may not be able to state explicitly because i don't know how to use the equation option. The requirement for equilibrium for two or more commodities is MUx/Px= MUy/Py .following this equilibrium condition to solve for all unknown MU of B, C, D and all other goods, lets say E. We have muA/PA=muB/pB=muC/pC=muD/pD=muE/pE. solving one by one,we have
YOU CAN GET OTHER VALUES OF muC,muD,muE by equating the already known values with them. u should get muC=45, muD=15, muE=75 .....BEST OF LUCKCOLLEAGUE