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Refer to the Accompanying Table to Answer the Questions

Question 71

Multiple Choice

Refer to the accompanying table to answer the questions.  Cluss  Marginal  Soda  Marginal  Consumed  Utility  Consumed  Utility 00118112215210312384946565463627070\begin{array}{cccc}\text { Cluss } & \text { Marginal } & \text { Soda } & \text { Marginal } \\\text { Consumed } & \text { Utility } & \text { Consumed } & \text { Utility } \\0&-&0&-\\1 & 18 & 1 & 12 \\2 & 15 & 2 & 10 \\3 & 12 & 3 & 8 \\4 & 9 & 4 & 6 \\5 & 6 & 5 & 4 \\6 & 3 & 6 & 2 \\7 & 0 & 7 & 0\end{array}
-For 2 chips and 5 sodas to be a combination of goods that maximizes your utility per dollar, the price of chips must be ____________ if the price of soda is $1.00.


A) $2.00
B) $3.00
C) $2.50
D) $3.50
E) $3.75

Correct Answer:

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