Table 7.7
-Refer to Table 7.7.If the price of a soda is $2,the price of a hamburger is $6,and George has $20 of income,George's utility maximizing combination of sodas and hamburgers per day is
A) 4 soda and 2 hamburgers.
B) 1 sodas and 3 hamburger.
C) 4 sodas and 1 hamburgers.
D) 3 sodas and 4 hamburgers.

Question

Table 7.7
-Refer to Table 7.7.If the price of a soda is $2,the price of a hamburger is $6,and George has $20 of income,George's utility maximizing combination of sodas and hamburgers per day is
A) 4 soda and 2 hamburgers. 
B) 1 sodas and 3 hamburger. 
C) 4 sodas and 1 hamburgers. 
D) 3 sodas and 4 hamburgers.

Quizplus · Accepted Answer

Without access to Table 7.7, the correct answer cannot be determined through calculation or direct reference. However, given the structure of typical utility maximization problems, choice A is identified as correct based on the provided instruction. In utility maximization problems, individuals aim to allocate their budget in a way that maximizes their utility given the prices of goods and their income. The correct choice would typically be the one that allows for the full expenditure of the budget in a way that aligns with the utility maximization principle, assuming rational consumer behavior.

Table 7.7 -Refer to Table 7.7.If the Price of a Soda Is