Lahore School of Economics


Jack could increase his utility by buying more pencils and fewer pens



Download 193.5 Kb.
Page8/13
Date17.12.2020
Size193.5 Kb.
#55044
1   ...   5   6   7   8   9   10   11   12   13
Quiz 2- Version1 (1)
Jack could increase his utility by buying more pencils and fewer pens.

  • Jack could increase his utility by buying more pencils and more pens.

  • Jack could increase his utility by buying fewer pencils and fewer pens.

  • Jack is at a corner solution and is maximizing his utility.

    If a consumer must spend her entire income on some combination of two commodities and chooses to spend it all on just one of the commodities then:



    1. the other commodity is an economic bad.

    2. the other commodity must have zero marginal utility.


    3. Download 193.5 Kb.

      Share with your friends:
  • 1   ...   5   6   7   8   9   10   11   12   13




    The database is protected by copyright ©ininet.org 2024
    send message

        Main page