Suppose Bill is on a low-carbohydrate diet. He can eat only three foods: Rice Krispies, cottage cheese, and popcorn. The marginal utilities for each food are tabulated below. Bill is allowed only 167 grams of carbohydrates daily. Rice Krispies, cottage cheese, and popcorn provide 25, 6, and 10 grams of carbohydrates per cup, respectively. Referring to the accompanying table, respond to the following questions: Please check the image provided for the table. Units of food(cups/day)12345678Marginal utilityof Rice Krispies17515012510075502525Marginal utilityof cottage cheese7266605448363018Marginal utilityof popcorn9080706050403020a. Given that Bill can consume only 167 grams of carbohydrates daily, how many cups of each food will he consumedaily? Show your work.b. Suppose Bill's doctor tells him to further reduce his carbohydrate intake to 126 grams per day. What combinationwill he consume?

Marginal benefit indicates the additional amount of benefit that a consumer receives from consuming…

Answered: Suppose Bill is on a low-carbohydrate…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Suppose Bill is on a low-carbohydrate diet. He can eat only three foods: Rice Krispies, cottage cheese, and popcorn. The marginal utilities for each food are tabulated below. Bill is allowed only 167 grams of carbohydrates daily. Rice Krispies, cottage cheese, and popcorn provide 25, 6, and 10 grams of carbohydrates per cup, respectively. Referring to the accompanying table, respond to the following questions:

Please check the image provided for the table.

Units of food
(cups/day)
1
2
3
4
5
6
7
8
Marginal utility
of Rice Krispies
175
150
125
100
75
50
25
25
Marginal utility
of cottage cheese
72
66
60
54
48
36
30
18
Marginal utility
of popcorn
90
80
70
60
50
40
30
20
a. Given that Bill can consume only 167 grams of carbohydrates daily, how many cups of each food will he consume
daily? Show your work.
b. Suppose Bill's doctor tells him to further reduce his carbohydrate intake to 126 grams per day. What combination
will he consume?

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