Quantity (lbs) 1 2 3 Marginal Utility Carrots 25 20 5 Marginal Utility Sugar- snap Peas 105 60 30 Marginal Utility Broccoli 45 20 -10 Margaret has her preferences for carrots, sugar-snap peas and broccoli shown in the above table. The price of carrots per pound is $0.50, the price of sugar-snap peas per pound is $2.00 and the price of broccoli per pound is $1.00. If Margaret is a rational consumer, in what order should she purchase the first three pounds of vegetables? O 1. Sugar-snap peas; 2. Broccoli; 3. Carrots 1. Carrots; 2. Carrots; 3. Sugar-snap peas O 1. Sugar-snap peas; 2. Sugar-snap peas; 3. Broccoli 1. Sugar-snap peas; 2. Carrots; 3. Broccoli
Quantity (lbs) 1 2 3 Marginal Utility Carrots 25 20 5 Marginal Utility Sugar- snap Peas 105 60 30 Marginal Utility Broccoli 45 20 -10 Margaret has her preferences for carrots, sugar-snap peas and broccoli shown in the above table. The price of carrots per pound is $0.50, the price of sugar-snap peas per pound is $2.00 and the price of broccoli per pound is $1.00. If Margaret is a rational consumer, in what order should she purchase the first three pounds of vegetables? O 1. Sugar-snap peas; 2. Broccoli; 3. Carrots 1. Carrots; 2. Carrots; 3. Sugar-snap peas O 1. Sugar-snap peas; 2. Sugar-snap peas; 3. Broccoli 1. Sugar-snap peas; 2. Carrots; 3. Broccoli
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question

Transcribed Image Text:Quantity
(lbs)
1
2
3
Marginal
Utility
Carrots
25
20
5
Marginal
Utility Sugar-
snap Peas
105
60
30
Marginal
Utility
Broccoli
45
1. Sugar-snap peas; 2. Broccoli; 3. Carrots
O 1. Carrots; 2. Carrots; 3. Sugar-snap peas
O 1. Sugar-snap peas; 2. Sugar-snap peas; 3. Broccoli
O 1. Sugar-snap peas; 2. Carrots; 3. Broccoli
20
Margaret has her preferences for carrots, sugar-snap peas and broccoli shown in
the above table. The price of carrots per pound is $0.50, the price of sugar-snap
peas per pound is $2.00 and the price of broccoli per pound is $1.00.
-10
If Margaret is a rational consumer, in what order should she purchase the first
three pounds of vegetables?
23
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