Units 1 2 3 4 5 Marginal Utility 10 8 Toffee (bars) 5 3 1 0 0 Total Utility 10 18 23 26 27 27 27 Cashews (bags) Marginal Utility 12 10 7 5 2 Total Utility 12 22 29 34 1 0 36 37 37 6 7 es of toffee bars and bags of cashews are both $3 and this consumer has $9 per week to spend on these two snacks, how many of each will he/she purchase to maximize utility? offee bars and 5 bags of cashews offee bars and 3 bags of cashews offee bar and 2 bags of cashews offee bars and 1 bag of cashews offee bars and 7 bags of cashews

Units 1 2 3 4 5 Marginal Utility 10 8 Toffee (bars) 5 3 1 0 0 Total Utility 10 18 23 26 27 27 27 Cashews (bags) Marginal Utility 12 10 7 5 2 Total Utility 12 22 29 34 1 0 36 37 37 6 7 es of toffee bars and bags of cashews are both $3 and this consumer has $9 per week to spend on these two snacks, how many of each will he/she purchase to maximize utility? offee bars and 5 bags of cashews offee bars and 3 bags of cashews offee bar and 2 bags of cashews offee bars and 1 bag of cashews offee bars and 7 bags of cashews

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter6: Consumer Choice Theory

Section: Chapter Questions

Problem 3SQP

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Question

Toffee (bars)
Marginal
Utility
10
8
5
3
1
0
0
Total
Utility
10
18
23
26
27
27
27
Cashews (bags)
Total
Utility
Marginal
Utility
12
10
Units
1
2
3
4
5
6
7
37
If the prices of toffee bars and bags of cashews are both $3 and this consumer has $9 per week to spend on these two snacks, how many of each will he/she purchase to maximize utility?
O A. 7 toffee bars and 5 bags of cashews
O B. 3 toffee bars and 3 bags of cashews
OC. 1 toffee bar and 2 bags of cashews
O D. 5 toffee bars and 1 bag of cashews
O E. 2 toffee bars and 7 bags of cashews
7
5
2
1
0
2222855
12
29
34
36
37

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