Solved

Exhibit 6-2 Total Utility for Hamburgers, Fries, and Cokes -In Exhibit 6-2, Assume That the Price of Hamburgers Is

Question 69

Multiple Choice

Exhibit 6-2 Total utility for hamburgers, fries, and Cokes  T otal Utility  from Hamburgers  Total Utility  from Fries  Total Utility  from Cokes 1 hamburger (100 utils)  1 order of fries (30 utils)  1 Coke (40 utils)  2 hamburgers (180 utils)  2 orders of fries (50utils) 2 Cokes (60utils) 3 hamburgers (240 utils)  3 orders of fries 60utils) 3 Cokes (70utils) \begin{array} { | c | c | c | } \hline \begin{array} { c } \text { T otal Utility } \\\text { from Hamburgers }\end{array} & \begin{array} { c } \text { Total Utility } \\\text { from Fries }\end{array} & \begin{array} { l } \text { Total Utility } \\\text { from Cokes }\end{array} \\\hline 1 \text { hamburger (100 utils) } & 1 \text { order of fries (30 utils) } & 1 \text { Coke (40 utils) } \\2 \text { hamburgers (180 utils) } & 2 \text { orders of fries } ( 50 \mathrm { utils } ) & 2 \text { Cokes } ( 60 \mathrm { util } \mathrm { s } ) \\3 \text { hamburgers (240 utils) } & 3 \text { orders of fries } 60 \mathrm { utils } ) & 3 \text { Cokes } ( 70 \mathrm { utils } ) \\\hline\end{array}
-In Exhibit 6-2, assume that the price of hamburgers is $2 each, fries cost 50 cents each, and Cokes cost $1 each. Suppose the consumer has $6 to spend on hamburgers, fries, and Cokes. Which of the following meals gives the consumer the most utility?


A) 3 hamburgers, no fries, and no Cokes.
B) 2 hamburgers, no fries, and 2 Cokes.
C) 2 hamburgers, 2 orders of fries and 1 Coke.
D) 1 hamburger, 2 orders of fries, and 3 Cokes.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents