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Answer the Question on the Basis of the Following Total

Question 221

Multiple Choice

Answer the question on the basis of the following total utility data for products L and M. Assume that the prices of L and M are $3 and $4, respectively, and that the consumer's income is $18. Answer the question on the basis of the following total utility data for products L and M. Assume that the prices of L and M are $3 and $4, respectively, and that the consumer's income is $18. What level of total utility does the rational consumer realize in equilibrium? A) 87 utils B) 104 utils C) 51 utils D) 58 utils What level of total utility does the rational consumer realize in equilibrium?


A) 87 utils
B) 104 utils
C) 51 utils
D) 58 utils

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