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 Number Marginal Utility Marginal Utility of of Pizzas Sodas 1 10 1 2 9 3 4 1 4 2 4 1 1. Calculate the marginal utility per dollar for sodas. Show your work. 2. List each sequential decision made to maximize utility. 3. 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 Number Marginal Utility Marginal Utility of of Pizzas Sodas 1 10 1 2 9 3 4 1 4 2 4 1 1. Calculate the marginal utility per dollar for sodas. Show your work. 2. List each sequential decision made to maximize utility. 3. How many pizzas and sodas maximize utility?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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