Economics Today (19th Edition)
Economics Today (19th Edition)
19th Edition
ISBN: 9780134478777
Author: Roger LeRoy Miller
Publisher: PEARSON
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Chapter 20.F, Problem 7P
To determine

Suppose that at a higher satisfaction level than in problem F-3, Sue’s constant-utility preferences are as shown in the table below. Calculate the slope of Sue’s new budget constraint using the information provided in problem F-5. Supposing now that the price of a soft drink falls to $1, find the combination of goods that satisfies Sue’s utility-maximization problem in light of her budget constraint.

Combination of Bottled Water and Soft Drinks Bottled Water per Month Soft Drinks per Month
A 5 22
B 10 14
C 15 8
D 20 4
E 25 2

Economics Today (19th Edition), Chapter 20.F, Problem 7P

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