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(Table) in the Table, Assume That a Consumer Has a Budget

Question 123

Multiple Choice

(Table) In the table, assume that a consumer has a budget of $12, water costs $2 per bottle, and chips cost $3 per bag. Utility will be maximized by buying
 Bottled Water  Bags of Chips  Quantity  Total Utility  Quantity  Total Utility 000014016027029039031054100411451065120\begin{array}{l}\hline \quad \quad \quad {\text { Bottled Water }} \quad \quad \quad \quad \quad \quad \quad {\text { Bags of Chips }} \\\begin{array}{|c|c|c|c|}\hline \text { Quantity } & \text { Total Utility } & \text { Quantity } & \text { Total Utility } \\\hline 0 & 0 & 0 & 0 \\\hline 1 & 40 & 1 & 60 \\\hline 2 & 70 & 2 & 90 \\\hline 3 & 90 & 3 & 105 \\\hline 4 & 100 & 4 & 114 \\\hline 5 & 106 & 5 & 120 \\\hline\end{array}\end{array}


A) no water and four bags of chips.
B) three bottles of water and two bags of chips.
C) two bottles of water and three bags of chips.
D) three bottles of water and three bags of chips.

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