Multiple Choice
Ken consumes two goods,Sprite and potato chips.Sprite costs $1 per can,and he consumes it to the point where the marginal utility he receives from his last Sprite is 3.Potato chips cost $2 per bag,and the relationship between the marginal utility he gets from eating a bag of potato chips and the number of bags he eats per month is as follows:
If Ken is maximizing his utility,how many bags of potato chips does he buy each month?
A) 2
B) 3
C) 4
D) 5
Correct Answer:

Verified
Correct Answer:
Verified
Q12: Indifference curves tend to be bowed inward
Q60: The theory of consumer choice provides the
Q67: Some economists have advocated reducing the taxation
Q97: Draw a budget constraint that is consistent
Q138: A consumer has preferences over consumption and
Q184: If John's marginal utility derived from the
Q186: A decrease in the price of DVD
Q187: A consumer has preferences over two goods:
Q190: Figure 21-7 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4796/.jpg" alt="Figure 21-7
Q193: The rate at which a consumer is