Consumer equilibrium class 7 (Misc)

state T/F

A consumer buys a combination of two goods- X and Y marginal utility equal to 28 utils and 24 utils respectively. Price of X is Rs7 per unit. The consumer will be in equilibrium only if the price of Y is Rs4 per unit

State T/F

price of good X is given as Rs. 8 per unit and marginal utility is given of money for the consumer is 3 utils. The consumer will be in equilibrium, if marginal utility of X is equal to 30 utils

A consumer of two goods A and B is in euilibrium. The price of Goods A and B are Rs.10 and Rs. 20 respectively If MUb is 60 utils what is MUa?

• 30

• 60

• 20

• 6

MUx is 40 and MUy is 30. If price of Y is 9, then the price of X at equilibrium is

• Rs9

• Rs 30

• Rs 15

• Rs12

a consumer consumes 2 goods X and Y whose prices are Rs3 and Rs4 units respectively. If a consumer chooses a combination of the goods with marginal utility of X equal to 4 and that of Y equals to 3, then the consumer will

• buy more units of both X and Y

• buy more units of Y and less of X

• Buy more units of X and less of Y

• Buy less units of both X and Y