Table: Madeline's Preferences for T-Shirts and Coffee Consumption Bundle Quantity of T-Shirts Quantity of Coffee (cups) 30 24 4 21 5 D. 19 18 Reference: Ref 10-21 According to Madeline's Preferences for T-Shirts and Coffee, if Consumption Bundles B an Care on the same indifference curve, then OA the 5th cup of Coffee provides the same amount of utility as the 24th, 23rd, and 22nd T-Shirts (combined) B. 24 T-Shirts provides the same amount of utility as 4 cups of Coffee C. the Bundie B must provide more utility than Bundle C D.4 cups of Coffee provide the same amount of utility as 21 T-Shirts E. the Bundie D cannot possibly be on the same indifference curve
Table: Madeline's Preferences for T-Shirts and Coffee Consumption Bundle Quantity of T-Shirts Quantity of Coffee (cups) 30 24 4 21 5 D. 19 18 Reference: Ref 10-21 According to Madeline's Preferences for T-Shirts and Coffee, if Consumption Bundles B an Care on the same indifference curve, then OA the 5th cup of Coffee provides the same amount of utility as the 24th, 23rd, and 22nd T-Shirts (combined) B. 24 T-Shirts provides the same amount of utility as 4 cups of Coffee C. the Bundie B must provide more utility than Bundle C D.4 cups of Coffee provide the same amount of utility as 21 T-Shirts E. the Bundie D cannot possibly be on the same indifference curve
Microeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter7: Consumer Choice And Elasticity
Section: Chapter Questions
Problem 4CQ
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Transcribed Image Text:Question 4
Table: Madeline's Preferences for T-Shirts and Coffee
Quantity of
Coffee (cups)
Consumption
Quantity
of T-Shirts
Bundle
A.
30
24
4
21
19
D.
6.
E
18
7
Reference: Ret 10-21
According to Madeline's Preferences for T-Shirts and Coffee, if Consumption Bundles B an C are on the same indifference curve, then
A. the 5th cup of Coffee provides the same amount of utility as the 24th, 23rd, and 22nd T-Shirts (combined)
B. 24 T-Shirts provides the same amount of utility as 4 cups of Coffee
OC. the Bundie B must provide more utility than Bundle C
D.4 cups of Coffee provide the same amount of utility as 21 T-Shirts
E, the Bundle D cannot possibly be on the same indifference curve
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