suppose that angela spends all of her income on two goods, pizza and soda. if the price of pizza falls then:

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08-11-2022
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suppose that angela spends all of her income on two goods, pizza and soda. if the price of pizza falls then:

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Bhuvangarg Bhuvangarg · Answer 1 · 2022-11-14T09:57:00+01:00

Minor Utility means the utility or fulfillment got by spending an extra dollar on another unti of a singular decent. The marginal utility/price ratio changes when the price of two goods changes.

Let's say angela spends her entire income on two items: pizza and books about fiction B. The current marginal utility per dollar spent on pizza will decrease if the price of pizza goes up. The marginal utility will change as the price goes up.

What is an illustration of marginal utility?

A consumer's enjoyment from each additional unit of consumption is called marginal utility. It determines the utility beyond the initial consumption of the product. The marginal utility is the utility gained from purchasing a second bottle of water after purchasing a first one.

Learn more about marginal utility here:

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Full Question - Suppose that angela spends all of her income on two goods: pizza and fiction novels. If the price of pizza rises, then

A. The current marginal utility per dollar spent on pizza will rise

B. The current marginal utility per dollar spent on pizza will fall

C. The current marginal utility per dollar spent on fiction novels will rise

D. The current marginal utility per dollar spent on fiction novels will fall