Given Two Goods, X and Y, Their Prices, P_X and P_Y

question 60

Multiple Choice

Given two goods, X and Y, their prices, P_X and P_Y, a consumer is in equilibrium when the last dollar spent on X yields

• A)zero marginal utility for Y.
• B)the same marginal utility as if all the money were spent on Y.
• C)a smaller marginal utility than the last dollar spent on Y.
• D)the same marginal utility as the last dollar spent on Y.
• E)none of the above

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