At a consumer optimum involving goods X and Y, the marginal utility of good X equals 5
utils. The price of good Y is three
times the price of good X. What is the marginal utility of good Y?
Part 2
A.
3
.
B.
15
.
C.
5
.
D.
There is not enough information.
1 answer
To determine the marginal utility of good Y, we need more information about the relationship between the marginal utilities of X and Y. Without this information, we cannot determine the exact value of the marginal utility of good Y. Therefore, the answer is D. There is not enough information.
1 answer