Leody buys 6 baseball caps and 9 calendars. The marginal utility of the 6th baseball cap and the marginal utility of the 9th calendar are both equal to 54 utils. Can we say that this is the optimal combination of baseball caps and calendars for Leody?

Question

Answer

No. We need to know his preferences for baseball caps and calendars.

Answer

No. If this was the optimal combination, the marginal utility per dollar of the 6th baseball cap and the 9th calendar would be equal.

Answer

Yes.

Answer

No. For this to be the optimal combination, the total utility from his purchase of baseball caps needs to equal the total utility from his purchase of calendars.

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Leody buys 6 baseball caps and 9 calendars. The marginal utility of the 6th base...

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