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MMLU / Mrs. Johnson spends her entire daily budget on potato chips, at a price of …

Problem

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

question

Mrs. Johnson spends her entire daily budget on potato chips, at a price of 1each,andoniondipatapriceof1 each, and onion dip at a price of 2 each. At her current consumption bundle, the marginal utility of chips is 12 and the marginal utility of dip is 30. Mrs. Johnson should
Plain-text mathematical notation (without MathML)
Mrs. Johnson spends her entire daily budget on potato chips, at a price of 1each,andoniondipatapriceof2 each. At her current consumption bundle, the marginal utility of chips is 12 and the marginal utility of dip is 30. Mrs. Johnson should
Original LaTeX notation
Mrs. Johnson spends her entire daily budget on potato chips, at a price of $1 each, and onion dip at a price of $2 each. At her current consumption bundle, the marginal utility of chips is 12 and the marginal utility of dip is 30. Mrs. Johnson should

choices

  1. do nothing; she is consuming her utility maximizing combination of chips and dip.
  2. increase her consumption of chips until the marginal utility of chip consumption equals 30.
  3. decrease her consumption of chips until the marginal utility of chip consumption equals 30.
  4. decrease her consumption of chips and increase her consumption of dip until the marginal utility per dollar is equal for both goods.

subject

high_school_microeconomics

Discussion

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Source and history

task_id
ddeb574c-07ec-5757-97c3-b968eb2f4888
task_key
all--test--ddeb574c-07ec-5757-97c3-b968eb2f4888
task_revision_id
1
config / split
all / test

Official source

initial import