Use the following to answer questions:
Figure: Consumer Equilibrium I
The figure shows three of Owen's indifference curves for pizza and soda per week. Owen has $180 per month to spend on the two goods. The price of a pizza is $20, and the price of a soda is $1.50.
-(Figure: Consumer Equilibrium I) Look at the figure Consumer Equilibrium I. If in equilibrium Owen receives marginal utility of 10 utils from the last pizza he consumes, his marginal utility from the last soda must be _____ utils.
A) 0.50
B) 0.75
C) 1.5
D) 13.3
Correct Answer:
Verified
Q229: Mario sees popcorn and pretzels as perfect
Q230: Mario sees popcorn and pretzels as perfect
Q231: LaToya sees honey and sugar as perfect
Q232: If Coke and Pepsi are perfect substitutes
Q233: LaToya sees honey and sugar as perfect
Q235: Mario sees popcorn and pretzels as perfect
Q236: Use the following to answer questions:
Figure: Consumer
Q237: Ms. Sweettooth always consumes iced tea and
Q238: Alison is a traveling salesperson who drives
Q239: Ms. Sweettooth always consumes iced tea and
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents