Multiple Choice
Crackerjacks cost twice as much as Doritos. Fred maximizes utility by buying eight boxes of Crackerjacks and some number of bags of Doritos. If the last box of Crackerjacks gives Fred 100 units of utility, you can conclude that:
A) Fred has also bought 16 bags of Doritos.
B) the marginal utility of the last bag of Doritos Fred bought is 50 units.
C) the total utility of the bags of Doritos Fred bought is 200 units.
D) Fred has also bought four bags of Doritos.
Correct Answer:

Verified
Correct Answer:
Verified
Q29: According to the law of diminishing marginal
Q30: Focal point equilibria definitely violate the principle
Q31: Refer to the graph shown. <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7145/.jpg"
Q32: To calculate the total utility of consuming
Q33: If the average utility of good A
Q35: The theory of rational choice assumes that:<br>A)
Q36: Steve has two choices for taking classes.
Q37: Experiments based on the "ultimatum game" indicate
Q38: Jason is faced with two options: A
Q39: In choosing between two products, a rational