identify the optional (highest utility) consumption for Edgar.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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The table below represents consumption along Edgar's budget constraint, with each row representing a possible consumption bundle. Edgar derives 50 unites of happiness from eating his first hot dog, 40 units for the recond hot dog, 30 unites for the third hot dog, and so on with added utility declining by 10 for each hot dog consumed. The first soda provides 30 unites and declines by steps iof 3 for each additional soda. Using this information identify the optional (highest utility) consumption for Edgar.
| Hot dogs |
Soda |
| 0 | 10 |
| 1 | 8 |
| 2 | 6 |
| 3 | 4 |
| 4 | 2 |
| 5 | 0 |
a.) 2 hot dogs & 6 sodas
b.) 1 hot dog & 8 sodas
c.) 3 hot dogs & 4 sodas
d.) 5 hot dogs & 0 sodas
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