Paula is currently spending all of her budget and she finds that the marginal utility per dollar from dresses exceeds the marginal utility per dollar from hats. To maximize her utility, Paula should therefore buy
A. probably change her purchases but more information is needed to determine if she should buy more or fewer dresses and hats.
B. more dresses and hats.
C. more dresses and fewer hats.
D. fewer dresses and hats.
E. more hats and fewer dresses.

Question

19-12-2022
Business

contestada

Paula is currently spending all of her budget and she finds that the marginal utility per dollar from dresses exceeds the marginal utility per dollar from hats. To maximize her utility, Paula should therefore buy
A. probably change her purchases but more information is needed to determine if she should buy more or fewer dresses and hats.
B. more dresses and hats.
C. more dresses and fewer hats.
D. fewer dresses and hats.
E. more hats and fewer dresses.

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Tutorconsortium435 Tutorconsortium435 · Answer 1 · 2022-12-22T01:58:32+01:00

Hats' marginal utility per dollar is lower than dresses' marginal utility per dollar. Paula should consequently purchase more dresses and fewer hats in order to optimize her utility.

How Marginal Utility Works:

The pleasure a consumer has from owning one additional unit of an item or service is known as marginal utility. The idea of marginal utility is used by economists to forecast how much of a good consumers would purchase.

What different forms does marginal utility take?

The three main types of marginal utility are increasing marginal utility, zero marginal utility, and point of diminishing utility. Consumers frequently experience higher marginal utility when the marginal cost is lower.

To know more about marginal utility visit:

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