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Suppose burgers sell for Rs.10 each Shub...

Suppose burgers sell for Rs.10 each Shubham has already eaten 5 burgers. His marginal utility of one rupee is 5. Should he consumer more or stop ? Given that MU=50 utils.

Text Solution

Verified by Experts

The correct Answer is:
N/a
At equilibrium ,
MU(money terms)=`"Price"_(Rs)`
MU(money terms) =`("MU(utils)")/("MU of a rupee")` = Price =`(50(U))/(5(U))`=Rs.10
Since MU(Rs.)=Price=Rs.10, he should stop consumption.
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