Question: All consumer equilibrium drop down choices are True/False Please provide both graphs 3. Finding the optimal combination of two goods Sharon enjoys consuming both milk

All consumer equilibrium drop down choices are True/False
Please provide both graphs
All consumer equilibrium drop down choices are True/False Please provide both graphs
3. Finding the optimal combination of two goods Sharon enjoys consuming both

3. Finding the optimal combination of two goods Sharon enjoys consuming both milk and juice. Each glass of milk costs Pre = $1, and each glass of juice costs P, = $2. Suppose that Sharon buys 30 glasses of milk and 20 glasses of juice per week. The following graphs show her marginal utility curves for milk and juice. At her current consumption level, Sharon's marginal utility from consuming the last glass of milk she bought is MUM = 12 utils per glass, and her marginal utility from consuming the last glass of juice she bought is MU, 12 utils per glass. 2 ? 24 24 20 20 16 15 MU OF MILK (Usperglass) (sse) omson 4 4 0 0 10 50 0 20 40 MILK (Glasses) 0 10 50 20 30 40 JUICE (Classes) Is Sharon currently maximizing her utility? No; she could buy less juice and more milk, not spend any more money, and be better off. No; she likes juice and milk more than other goods, so she should buy more of both O Yes; the marginal utility she receives from her last glass of milk equals that of her last glass of juice. O No; she could buy more juice and less milk, not spend any more money, and be better off. For each of the following combinations of milk and juice, calculate the marginal utility per dollar from the last glass of milk and the last glass of juice Then, use the dropdown menus in the last column to indicate which of the combinations satisfy the condition for consumer equilibrium Milk Juice (Glasses) Combination (Glasses) MU PM MU 1 Consumer Equilibrium? 20 30 B 40 20 G 30 True 30 D 50 40 False Suppose Sharon has a "beverage budget of $130 per week, which she spends on milk and juice. To maximize her utility, Sharon will purchase glasses of milk and olasses of juice per week. 3. Finding the optimal combination of two goods Sharon enjoys consuming both milk and juice. Each glass of milk costs Pre = $1, and each glass of juice costs P, = $2. Suppose that Sharon buys 30 glasses of milk and 20 glasses of juice per week. The following graphs show her marginal utility curves for milk and juice. At her current consumption level, Sharon's marginal utility from consuming the last glass of milk she bought is MUM = 12 utils per glass, and her marginal utility from consuming the last glass of juice she bought is MU, 12 utils per glass. 2 ? 24 24 20 20 16 15 MU OF MILK (Usperglass) (sse) omson 4 4 0 0 10 50 0 20 40 MILK (Glasses) 0 10 50 20 30 40 JUICE (Classes) Is Sharon currently maximizing her utility? No; she could buy less juice and more milk, not spend any more money, and be better off. No; she likes juice and milk more than other goods, so she should buy more of both O Yes; the marginal utility she receives from her last glass of milk equals that of her last glass of juice. O No; she could buy more juice and less milk, not spend any more money, and be better off. For each of the following combinations of milk and juice, calculate the marginal utility per dollar from the last glass of milk and the last glass of juice Then, use the dropdown menus in the last column to indicate which of the combinations satisfy the condition for consumer equilibrium Milk Juice (Glasses) Combination (Glasses) MU PM MU 1 Consumer Equilibrium? 20 30 B 40 20 G 30 True 30 D 50 40 False Suppose Sharon has a "beverage budget of $130 per week, which she spends on milk and juice. To maximize her utility, Sharon will purchase glasses of milk and olasses of juice per week

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