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For a Consumer, the Marginal Utility of Good a Is

question 149

Essay

For a consumer, the marginal utility of good A is 25 and its price is $5. The marginal utility of good B is 60 and its price is $12. The consumer has allocated his entire budget. Is this consumer maximizing his total utility? Explain your answer.


Definitions:

Medical Care

Professional services provided by healthcare practitioners to maintain, improve, or manage health.

Computer Technology

The use of computers and software to perform tasks, manage information, and solve problems.

Medical Services

Healthcare services provided to diagnose, treat, and prevent illness, injury, and other physical and mental impairments in individuals.

Mobile Devices

Portable electronic devices with computing capabilities, including smartphones and tablets.

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