Question
The following table shows Madison's utility... from consuming popcorn and Coke. Suppose that Madison has income...
The following table shows Madison's utility... from consuming
popcorn and Coke. Suppose that Madison has income of $18.00, the
price of popcorn is $6.00, and the price of Coke is $1.50. If
Madison wants to maximize her utility, how much popcorn and Coke
should she buy?
Popcorn Coke
Quantity Marginal Utility Marginal Utility
1 192 144
2 144 108
3 96 72
4 48 36
5 24 18
6 12 9
Madison should buy
?? boxes of popcorn and
?? cans of Coke. (Enter your responses as integers.)
Homework Answers
Answer #1
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Similar Questions
The following table shows Madison's utility from consuming popcorn and Coke. Suppose that Madison has income...
The following table shows Madison's utility from consuming
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1
192
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1
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Total Utility
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Marginal Utility
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0
0
-
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105...
The following table shows Ellie's utility from consuming slices of cake and 7-Up Slices of CakeCake...
The following table shows Ellie's utility from consuming slices
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0
-
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1
120
1
120
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100
2
60
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80
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30
5
40
5
20
6
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As Shaniq drinks additional cups of tea at breakfast,
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total utility from tea decreases.
Both answers A and B are correct.
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Question 2 (1 point)
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Question 2 options:
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only the prices of both goods.
the utility schedule.
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____ 2. Consumers should purchase quantities of a good to the
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