I know no one is here to help me with my homework, but I really need some help.
Suppose Barry is maximizing his utility from consuming used paperback novels and audio books. The price of a used novel = $4 and the price of an audio book = $8. If the marginal utility of the last novel was 32 units of utility (utils) what was the marginal utility of the last audio book purchased?
a. 16 utils.
b. 64 utils.
c. 12 utils.
d. 2 utils.
Suppose Barry is maximizing his utility from consuming used paperback novels and audio books. The price of a used novel = $4 and the price of an audio book = $8. If the marginal utility of the last novel was 32 units of utility (utils) what was the marginal utility of the last audio book purchased?
a. 16 utils.
b. 64 utils.
c. 12 utils.
d. 2 utils.