Asked by Kevin

What happens to the marginal utility per dollar of shoes if the priece of shoes goes up, and how should consumers respond to this to maximize utility

Answers

Answered by economyst
Marginal utility per dollar doesnt change. However, with a price increase, I need more dollars to get a single pair of shoes. I would buy less shoes and more of something else.
There are no AI answers yet. The ability to request AI answers is coming soon!

Related Questions