Multiple Choice
Fernando allocates his lunch money between pizza and Coke.A Coke has a price of $1 and a slice of pizza has a price of $1.50.The marginal utility of the last slice of pizza Fernando ate today was 30, and the marginal utility of his last Coke was 25.Fernando spent all of his lunch money.From this information we can conclude that
A) Fernando allocated his money in a way that maximized his total utility
B) Fernando's total utility would have been greater if he had purchased more Coke and less pizza
C) Fernando's total utility would have been greater if he had purchased more pizza and less Coke
D) Fernando could have increased his total utility by purchasing more Coke but the same quantity of pizza
E) Fernando could have increased his total utility by purchasing more pizza but the same quantity of Coke
Correct Answer:

Verified
Correct Answer:
Verified
Q19: A utility-maximizing consumer who is considering two
Q20: If Dalene's marginal benefit from consuming another
Q21: "I don't feel so good.I shouldn't have
Q22: The marginal utility of a second copy
Q23: As a consumer allocates income between good
Q25: Joe the Economist tells his wife, Jane,
Q26: Which of the following economic explanations describes
Q27: Utility is<br>A)the sense of pleasure or satisfaction
Q28: Exhibit 6-21 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6784/.jpg" alt="Exhibit 6-21
Q29: Opportunity cost is measurable only when prices