Suppose the following information is true : MUcar = 36,000, MUcoke = 1.5, MUhouse = 450,000, Pcar = $12,000, and Phouse = $150,000, what must the price of coke be if the consumer is in equilibrium? a. $3. b. $0.30. c. $50. d. $0.50 e. $5.
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Ответ:
The correct answer is d. $0.50
Explanation:
Marginal utility is the extra satisfaction that is derived from consuming an extra unit of a product.
If the consumer is to be at equillibrum then his marginal utility to price ratio for all the commodities must be equal
We are given
MUcar = 36,000
MUcoke = 1.5
MUhouse = 450,000
Pcar = $12,000
Phouse = $150,000
MU to price ratio for car= 36,000/12,000= 3
MU to price ratio for house= 450,000/150,000= 3
So ratio of marginal utility to price for coke must be equal to 3 at equillibrum
MU to price ratio for coke= 1.5/x= 3
Cross multiplying
x= 1.5/3= $0.5
So price of coke must be $0.5 at equillibrum
Ответ: