Question

A consumer of two goods X and Y is in equilibrium. The price of good X is Rs. 10 and price of the good Y
is Rs. 20 respectively. If the MUX is 60 utils , then the MUy is

Answer 1

Answer:

120 utils

Explanation:

MUx/Px = MUy/Py

60/10 = MUy/20

60×20/10=MUy

120 =MUy Ans.

Answer 2

Marginal utility for good Y is 120 utils.

Explanation:

Given that,

There are two goods: X and Y and they are in equilibrium.

price of good X, Px = Rs. 10

price of the good Y , Py = Rs. 20

Marginal utility of good X, MUx = 60 utils

We know that the optimality condition is:

$\frac{MUx}{Px}=\frac{MUy}{Py}$

$\frac{60}{10}=\frac{MUy}{20}$

$MUy=\frac{60\times20}{10}$

MUy = 120 utils

Therefore, marginal utility for good Y is 120 utils.

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