Suppose Rohit Is Purchasing Green Beans and Corn

question 324

Essay

Suppose Rohit is purchasing green beans and corn. The price of a can of green beans is $1.50 and its marginal utility is 15. The price of a can of corn is $2 and its marginal utility is 25. Is Rohit in equilibrium? Why or why not? If not, how must he alter his buying to maximize total utility?

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Definitions:

Positive Pole

In electrical terminology, the terminal of a battery or device from which current flows out, having a higher electrical potential.

Muscle End Plate

A specialized area of muscle fiber membrane where a motor neuron terminates and transmits nerve impulses to the muscle, leading to contraction.

Neurotransmitter-activated Ion Channels

Ion channels that open in response to the binding of a neurotransmitter, allowing ions to enter or exit the neuron and alter its electrical charge.