05 Jun Zach consumes two goods: apples and oranges. He is
uestion
Maximizing Utility Question
Zach consumes two goods: apples and oranges. He is currently spending his entire income on consuming 10 apples and 18 oranges per week. His marginal utility of the last apple and the last orange are 90 and 70, respectively. Prices ofapple and orange are $6 and $4, respectively.
How much weekly income does Zach earn?
Is Zach maximizing his utility now? Explain.
If your answer to b is no, how would you recommend Zach to modify his consumption bundle ?
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