Solved

Refer to the Information Provided in Table 6 -Refer to Table 6

Question 23

Multiple Choice

Refer to the information provided in Table 6.1 below to answer the question(s) that follow.
Table 6.1
 Number of  Hamburgers per  Day  Total Utility  Marginal Utility 13025236747654 Number of  Sodas per Day  Total Utility  Marginal Utility 12023534745757\begin{array} { | c | c | c | } \hline \begin{array} { c } \text { Number of } \\\text { Hamburgers per } \\\text { Day }\end{array} & \text { Total Utility } & \text { Marginal Utility } \\\hline 1 & 30 & \\\hline 2 & 52 & \\\hline 3 & 67 & \\\hline 4 & 76 & \\\hline 5 & & 4 \\\hline \begin{array} { c } \text { Number of } \\\text { Sodas per Day }\end{array} & \text { Total Utility } & \text { Marginal Utility } \\\hline 1 & 20 & \\\hline 2 & 35 & \\\hline 3 & 47 & \\\hline 4 & 57 & \\\hline 5 & & 7 \\\hline\end{array}
-Refer to Table 6.1. If the price of a soda is $2, the price of a hamburger is $6, and George has $14 of income, George's utility-maximizing combination of sodas and hamburgers per day is


A) 1 soda and 2 hamburgers.
B) 4 sodas and 1 hamburger.
C) 3 sodas and 1.5 hamburgers.
D) indeterminate from this information.

Correct Answer:

verifed

Verified

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

Related Questions