Solved

Suppose You Are Consuming Hot Dogs and Cokes and Believe

Question 90

Multiple Choice

Suppose you are consuming hot dogs and Cokes and believe you are receiving maximum total utility from the meal for your entire budget of $12.The price of a hot dog is $2 and the price of a Coke is $2.Which one of the following can you conclude?


A) The total utility from hot dogs is maximized.
B) The marginal utilities from hot dogs and Cokes divided by the quantity of each good must be equal.
C) The total utilities from hot dogs and Cokes must be equal.
D) You are purchasing three hot dogs and three Cokes.
E) The marginal utilities from hot dogs and Cokes must be equal.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q85: Use the table below to answer the

Q86: Use the table below to answer the

Q87: Lucy buys only magazines and CDs.Both are

Q88: Use the table below to answer the

Q89: Use the table below to answer the

Q91: Harold can consume apples and oranges.He likes

Q92: Childcare workers often get paid fairly low

Q93: Behavioural economics and neuroeconomics seek to achieve<br>A)the

Q94: Ron starts out in consumer equilibrium,consuming two

Q95: Consider Devon's total utility from snorkeling and