Refer to the information provided in Figure 6.15 below to answer the questions that follow. Figure 6.15
-Refer to Figure 6.15. If the price of an ice cream cone is $2, the price of ice cream sandwiches is
A) $2.
B) $3.
C) $50.
D) $100.

Question

Refer to the information provided in Figure 6.15 below to answer the questions that follow.  Figure 6.15
-Refer to Figure 6.15. If the price of an ice cream cone is $2, the price of ice cream sandwiches is
A) $2. 
B) $3. 
C) $50. 
D) $100.

Quizplus · Accepted Answer

At a price of $2, the demand for ice cream cones is 14 units and the demand for ice cream sandwiches is 8 units. At this price, the marginal benefit of consuming an ice cream cone is equal to its price ($2), but the marginal benefit of consuming an ice cream sandwich is higher than its price ($3). Therefore, the best choice is to consume ice cream sandwiches.

Refer to the Information Provided in Figure 6