The table below shows the marginal utility from consuming mini pizzas and sodas. If pizzas and soda are the only goods and the price of a mini pizza is $1 and the price of a soda is $.50, how many of each will maximize utility if you have $4 for lunch? Number of Marginal Number of Marginal Pizzas Utility Sodas Utility 1 10 6 2 3 4 1 4 2 4 1 5 1. Calculate the marginal utility per dollar for sodas. Show your work. 2. How many pizzas and sodas maximize utility?
The table below shows the marginal utility from consuming mini pizzas and sodas. If pizzas and soda are the only goods and the price of a mini pizza is $1 and the price of a soda is $.50, how many of each will maximize utility if you have $4 for lunch? Number of Marginal Number of Marginal Pizzas Utility Sodas Utility 1 10 6 2 3 4 1 4 2 4 1 5 1. Calculate the marginal utility per dollar for sodas. Show your work. 2. How many pizzas and sodas maximize utility?
Microeconomics A Contemporary Intro
10th Edition
ISBN:9781285635101
Author:MCEACHERN
Publisher:MCEACHERN
Chapter6: Consumer Choice And Demand
Section: Chapter Questions
Problem 2QFR
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