Multiple Choice
The price of a hamburger is $1 and the price of a movie is $6 and the consumer has $14. A consumer has purchased 2 hamburgers and 2 movies, receiving 20 units of utility for the second hamburger and 100 units of utility for the second movie. The set of goods
A) is an optimum since the entire income is spent and the marginal utility per dollar spent is the same for the last unit of each good.
B) is an optimum since the entire income is spent and total utility is maximized.
C) is not an optimum because the marginal utility per dollar spent is greater for hamburgers than for movies and the consumer is not spending all of his income.
D) is not an optimum because the marginal utility for each good is not equal.
Correct Answer:

Verified
Correct Answer:
Verified
Q137: Using indifference curve analysis, an optimum is
Q258: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5018/.jpg" alt=" -Refer to the
Q274: An indifference curve shows<br>A) the combinations of
Q300: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5013/.jpg" alt=" -Use the above
Q302: Consumers do not buy as many units
Q304: John has just eaten another potato chip
Q306: At the point at which total utility
Q308: What do we know about total utility
Q310: If the quantity of hamburgers is measured
Q370: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5018/.jpg" alt=" -Use the above