Question #11100336
Economics budget line?
*Help please!! (: Later, Jerry walks into a music store. Jerry enjoys purchasing two goods: guitars and music sheets. The price of a music sheet is $5, while the price of a guitar is $100. Currently, Jerry’s marginal utility from buying another music sheet is 15, while his marginal utility from buying another guitar is 350. Jerry’s total budget for buying guitars and music sheets is $400. c) Write down an equation for Jerry’s budget line. Use G and M for the variables guitars and music sheets, respectively. d) Is Jerry consuming optimally? If not, how should he change his consumption to be optimal? How do you know?
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Economics budget please Later store enjoys purchasing goods guitars sheets guitar Currently Jerry’s marginal utility buying another marginal utility buying another guitar Jerry’s budget buying guitars sheets equation Jerry’s budget variables guitars sheets respectively consuming optimally should change consumption optimal know
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