Answer
No to both questions.
Work Step by Step
If he would not willingly exhange food for a larger house, or a smaller house for food, then the marginal utility is equalized and utility is maximized.
Microeconomics: Principles, Applications, and Tools (8th Edition)
by O'Sullivan, Arthur; Sheffrin, Steven; Perez, Stephen
Published by
Prentice Hall
ISBN 10:
0-13294-886-9
ISBN 13:
978-0-13294-886-9
Chapter 7 - Consumer Choice: Utility Theory and Insights from Neuroscience - Exercises - 7.1 Traditional Consumer Choice: Utility Theory - Page 177: 1.13b
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