Farida has US$ 55 to spend on apples and oranges. Given the information in the following table, is Farida maximizing utility? Briefly Describe.
|
product
|
price
|
quantity
|
total utility
|
marginal utility of last unit
|
|
apples
|
$0.50
|
50
|
1,000
|
20
|
|
oranges
|
$0.75
|
40
|
500
|
30
|