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

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

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter6: Consumer Choice Theory

Section: Chapter Questions

Problem 4SQP

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Question

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

Table 6.1
Number of
Total Utility
Marginal Utility
Hamburgers per Day
1
30
52
3
67
4
76
4
Number of
Total Utility
Marginal Utility
Sodas per Day
1
20
2
35
3
47
4
57
7

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