Joseph Chooses a Combination of Apples and Oranges Along His

question 174

Multiple Choice

Joseph chooses a combination of apples and oranges along his budget line.the marginal rate of substitution of apples in place of oranges is 2, the price of an apple is $0.50, and the price of an orange is $0.10.Joseph:

• A)is maximizing total utility.
• B)should consume more apples and fewer oranges to maximize total utility.
• C)should consume fewer apples and more oranges to maximize total utility.
• D)may or may not be maximizing total utility.

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