Big Billie, who is always in consumer equilibrium, has just purchased eight MegaBurritos at $6.00 each...
Big Billie, who is always in consumer equilibrium, has just purchased eight MegaBurritos at $6.00 each and five MaxiNachos at $4.00 each. If his marginal utility of the last MegaBurrito is 1200 utils, then his marginal utility from the last MaxiNacho must be _____ utils.
-400
-200
-100
-800
-1600
Homework Answers
It is given that Big Billie is always in equilibrium.
Let Mega Burrito is represented by MB and Maxi Nacho Is represented
by MN.
In consumer equilibrium,
The marginal utility from consuming the last mega burrito is
1,200 utils and the price of a mega burrito is $6. The price of a
Maxi Nacho is $4.
Calculating the marginal utility from consuming the last maxi
nacho:
Therefore, the marginal utility from consuming the last maxi nacho is 800 utils.
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