Elvis values the first gravy sandwich at $5,the second at $4.50,and the third at $4.If he buys three sandwiches for $4 each,his total utility has a value of _____
A)$4.50.
B)$1.50.
C)$13.50.
D)$9.50.
E)$12.

Question

Quizplus · Accepted Answer

Elvis values the first sandwich at $5, the second at $4.50, and the third at $4, totaling $13.50 in value. Since he pays $4 each, his total expenditure is $12, but the question asks for the total utility value, which is the sum of the values he places on each sandwich, hence $13.50.

Elvis Values the First Gravy Sandwich at $5,the Second at $4.50,and