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Problem

Answer published by the source. Consult the official source to check your work against its answer.

question

Every day Melanie spends her lunch money consuming apples, at 1each,andoranges,at1 each, and oranges, at 2 each. At her current level of consumption, Melanie's marginal utility of apples is 12 and her marginal utility of oranges is 18. If she has already spent all of her lunch money, how should Melanie change her consumption decision to maximize utility?
Plain-text mathematical notation (without MathML)
Every day Melanie spends her lunch money consuming apples, at 1each,andoranges,at2 each. At her current level of consumption, Melanie's marginal utility of apples is 12 and her marginal utility of oranges is 18. If she has already spent all of her lunch money, how should Melanie change her consumption decision to maximize utility?
Original LaTeX notation
Every day Melanie spends her lunch money consuming apples, at $1 each, and oranges, at $2 each. At her current level of consumption, Melanie's marginal utility of apples is 12 and her marginal utility of oranges is 18. If she has already spent all of her lunch money, how should Melanie change her consumption decision to maximize utility?

category

economics

options

  1. She should make no changes; she is consuming the utility maximizing combination of apples and oranges.
  2. She should increase her apple consumption and decrease her orange consumption until the marginal utility per dollar is equal for both.
  3. She should spend all her money on apples since they are cheaper.
  4. She should save her lunch money instead of spending it on apples and oranges.
  5. She should continue consuming apples and oranges at the same rate, regardless of marginal utility.
  6. She should decrease her apple consumption and increase her orange consumption until the marginal utility per dollar is equal for both.
  7. She should increase her apple consumption and decrease her orange consumption until the marginal utility is equal for both.
  8. She should increase her apple consumption and decrease her orange consumption until the total utility is maximized, regardless of the price.
  9. She should spend all her money on oranges as they have higher marginal utility.
  10. She should decrease her apple consumption and increase her orange consumption until the marginal utility per dollar of oranges is twice that of apples.

src

ori_mmlu-high_school_microeconomics

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Source and history

upstream_id / Original problem ID
7245
task_id
d2598d16-ae3b-5647-8647-447f51e523b3
task_key
default--test--7245
task_revision_id
1
config / split
default / test

Official source

initial import