If the marginal utilities of A and B are 300 and 450, and the price of B is Rs 60, what will be the price of A if the consumer equilibrium is maintained?
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1 mark, −0.33MicroeconomicsConsumer preferences and utilityMarginal utility and the equi-marginal principleEasyabout 1 min
UoH 2018 Question 49: Consumer preferences and utility
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Consumer preferences and utility has come up 93 times in 7 exams since 2007.
What this question tests
This question is on Marginal utility and the equi-marginal principle, part of Consumer preferences and utility in Microeconomics.
Diminishing marginal utility and the cardinal rule that a consumer equalises marginal utility per rupee across goods.
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