Multiple Choice
Table 21-1
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:
-Refer to Table 21-1.George consumes two goods,milk and cookies.He has maximized his utility given his income.Milk costs $2 per litre and he consumes it to the point where the marginal utility he receives from milk is 8.Cookies cost $5 per bag.How many bags of cookies does George buy each month
A) 1
B) 2
C) 3
D) 4
Correct Answer:
Verified
Correct Answer:
Verified
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