Multiple Choice
The last Big Mac that Eva consumes costs $2.00 and gives her 24 units of utility. The last Whopper she consumes costs $1.50 and gives her 18 units of utility. Eva is maximizing her utility. If the price of the Whopper falls to $1.30 and given diminishing marginal utility, Eva should:
A) consume more Big Macs and fewer Whoppers.
B) consume more Whoppers and fewer Big Macs.
C) keep consuming the current amounts of both Big Macs and Whoppers.
D) realize that she doesn't have enough information to answer the question.
Correct Answer:

Verified
Correct Answer:
Verified
Q87: As long as total utility is increasing,
Q88: When the ratios of the marginal utility
Q89: Refer to the graph shown. Between points
Q90: The use of expensive cars and yachts
Q91: Joe is maximizing utility by consuming three
Q93: Refer to the graph shown. Between points
Q94: The principle of diminishing marginal utility states
Q95: The theory of bounded rationality suggests that
Q96: What is the marginal utility of
Q97: Refer to the graphs shown. <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7145/.jpg"