Answered: cheese sandwiches and grilled chicken…

Business

Economics

cheese sandwiches and grilled chicken sandwiches. Which of the following statements is false?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Table
10-4
Quantity
1
2
3
4
5
6
Steak &
Cheese
MU
40
32
20
12
6
2
Steak &
Cheese
MU/P
10
8
5
3
1.5
0.5
Grilled
Chicken
MU
30
24
16
12
8
4
Grilled
Chicken
MU/P
15
12
8
6
4
2
4
Refer to Table 10-4. For steak and cheese sandwiches and grilled chicken
sandwiches, the table contains the values of the marginal utility (MU) and marginal
utility per dollar (MU/P) for Mabel Jarvis. Mabel has $14 to spend on steak and
cheese sandwiches and grilled chicken sandwiches. Which of the following
statements is false?

statemen
A)
We do not have enough information to determine how many sandwiches
Mabel will buy to maximize her utility.
B) The price of steak and cheese sandwiches is $4. The price of grilled chicken
sandwiches is $2.
C) If Mabel maximizes her utility, she will buy three grilled chicken sandwiches.
D) If Mabel maximizes her utility, she will buy two steak and cheese
sandwiches.

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