Multiple Choice
George consumes two goods,milk and cookies.He has maximized his utility given his income.Milk costs $2 per gallon and he consumes it to the point where the marginal utility he receives from drinking a gallon of milk is 6.Cookies cost $4 per bag and the relationship between the marginal utility that George gets from eating a bag of cookies and the number of bags he eats per month is as follows:
How many bags of cookies does George buy each month?
A) 1
B) 2
C) 3
D) 4
Correct Answer:

Verified
Correct Answer:
Verified
Q70: The income effect of a price change
Q129: Which of the following statements is false?<br>A)Reducing
Q132: Figure 21-4<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2178/.jpg" alt="Figure 21-4
Q133: Scenario 21-1<br>Suppose the price of pizza is
Q137: A consumer<br>A)is equally satisfied with any indifference
Q139: The substitution effect of a price change
Q160: If the price of hamburgers increases,the substitution
Q209: Laura consumes only beer and chips. Her
Q248: The theory of consumer choice examines<br>A)the determination
Q426: Economists represent a consumer's preferences using<br>A)demand curves.<br>B)budget