Nick lives in san diego and loves to eat desserts. he spends his entire weekly allowance on jello and pie. a bowl of jello is priced at $1.25, and a piece of apple pie is priced at $3.75. at his current consumption point, nick's marginal rate of substitution (mrs) of jello for pie is 3. this means that nick is willing to trade three bowls of jello per week for one piece of pie per week. does nick's current bundle maximize his utility—in other words, make him as well off as possible? if not, how should he change it to maximize his utility?
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Nick lives in san diego and loves to eat desserts. he spends his entire weekly allowance on jello an...
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