Optimal consumption bundle and marginal utility per dollar, Microeconomics

Assignment Help:

What is the optimal consumption bundle and marginal utility per dollar?

The optimal consumption bundle is the consumption bundle which maximizes a consumer's total utility specified his or her budget constraint.

The marginal utility per dollar spent onto a good or service is the additional utility through spending one more dollar on which good or service.

Marginal utility per dollar spent onto a good = marginal utility of one unit of the good/price of one unit of the good = MUgood/Pgood


Related Discussions:- Optimal consumption bundle and marginal utility per dollar

Microenconomics 3, Output 0 Fixed cost $100 Varaible Cost 40 what is the T...

Output 0 Fixed cost $100 Varaible Cost 40 what is the Total cost and Total revenue also the Profit/Loss

Explain why despite decreases in marginal cost, Problem 1: How can a ma...

Problem 1: How can a manager of a supermarket maximise total revenue using various concepts of elasticity of demand? Use examples to illustrate. Problem 2: What are the

Balance of payment, Balance of payment: It is an account that summariz...

Balance of payment: It is an account that summarizes a country’s total payments and total receipts from international economic transactions within a specific period usually on

Canon, analyze Swot of Canon

analyze Swot of Canon

Differentiate between economic development and growth, Problem: i) Diff...

Problem: i) Differentiate between economic development and economic growth. ii) Describe carefully how, using the expenditure approach, national income is calculated. ii

Industrial policy, Industrial Policy: Government policies which are aimed a...

Industrial Policy: Government policies which are aimed at fostering the domestic development of particular desirable or productive industries, in order to enhance productivity, cre

Keys of the profit maximisation in production technology, What are the keys...

What are the keys of the profit maximisation in production technology? Profit Maximization in production technology: a. Producer Behavior b. Producer’s Optimal Choice

Elasticity, You estimate that the price elasticity of demand for one-acre p...

You estimate that the price elasticity of demand for one-acre plots in Lusaka is -1.5 and that income elasticity of demand is 5. Land owners intend to increase the price of a one-a

Isoquant, definition of abnormal isoquant and normal isoquant

definition of abnormal isoquant and normal isoquant

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd