Intermediate Microeconomics Assign.

timer Asked: Nov 12th, 2015

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1. If we take k100 away from a rich person and give it to a poor person, the rich person loses utility less than the poor person gains. Do you agree with this statement?

2. The marginal utility of a good A is 4 utils, and its price is $2, and the marginal utility of good B is 6 utils, its price is $1.Is the individual consumer maximizing (total) utility if she spends a total of $3 by buying one unit of each good? if not, how can more utility be obtained?

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