Use the following to answer question:
-(Table: The Total Utility of Income After College Expenses)Use Table: The Total Utility of Income After College Expenses.The Smith family's expected income after tuition is:
A)$32,500.
B)$38,000.
C)$40,000.
D)$45,000.

Question

Use the following to answer question: 
-(Table: The Total Utility of Income After College Expenses)Use Table: The Total Utility of Income After College Expenses.The Smith family's expected income after tuition is:
A)$32,500. 
B)$38,000. 
C)$40,000. 
D)$45,000.

Quizplus · Accepted Answer

According to the table, at an income of $40,000, the total utility of income after college expenses is maximized. Therefore, the best choice for the Smith family would be an expected income of $40,000 after tuition.

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