Solved

The Table Below Shows the Quantities of Toffee Bars and Bags

Question 19

Multiple Choice

The table below shows the quantities of toffee bars and bags of cashews that a consumer could consume over a 1-week period.
Toffee (bars) Cashews (bags)
The table below shows the quantities of toffee bars and bags of cashews that a consumer could consume over a 1-week period. Toffee (bars)  Cashews (bags)     TABLE 6-1 -Refer to Table 6-1.If the price of toffee bars is $1 each,bags of cashews are $2 each,and this consumer has $7 per week to spend on these two snacks,how many of each will he/she purchase to maximize utility? A) 0 toffee bars and 3 bags of cashews B) 1 toffee bars and 3 bags of cashews C) 2 toffee bars and 2 bags of cashews D) 3 toffee bars and 2 bags of cashews E) 7 toffee bars and 0 bags of cashews TABLE 6-1
-Refer to Table 6-1.If the price of toffee bars is $1 each,bags of cashews are $2 each,and this consumer has $7 per week to spend on these two snacks,how many of each will he/she purchase to maximize utility?


A) 0 toffee bars and 3 bags of cashews
B) 1 toffee bars and 3 bags of cashews
C) 2 toffee bars and 2 bags of cashews
D) 3 toffee bars and 2 bags of cashews
E) 7 toffee bars and 0 bags of cashews

Correct Answer:

verifed

Verified

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

Related Questions