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Option 1 John gets a weekly allowance of $20 from his parents. The only thing he has a real interest in buying is a big slice of pizza after school for $2 per slice. Below shows his marginal utility for each slice consumed. Number of Pizza Slices Marginal Utility per Pizza Slice Marginal Utility Per Funnel Cake 1  20 50 2  12 40 3  10 32 4  6 20 5  2 12 6  0 0 7  -2 -12 8  -6 -20 a) What is the optimal quantity of pizza slices for John to buy? Explain. John should purchase the maximum number of pizza slices, which is five, as the marginal utility of the fifth slice of pizza is two, or the same as the marginal cost. b) If John purchased eight slices, what total utility would he enjoy? If John purchased all 8 slices of the total utility, he would enjoy would be 44. Part b- For total utility—you will need to add up each marginal utility for each slice purchased. Check your math and be sure you show your work.   c) The school starts selling funnel cakes for $4, which John discovers offers the marginal utility per cake shown on the same table. Complete a table that shows the marginal utility per dollar for each slice of pizza and cake (in separate columns). Pizza Slice or Funnel Cake Marginal Utility Price Marginal Utility per dollar Pizza Slice 1 20 $2 10 Pizza Slice 2 12 $2 6 Pizza Slice 3 12 $2 6 Pizza Slice 4 6 $2 3 Pizza Slice 5 2 $2 1 Pizza Slice 6 0 $2 0 Pizza Slice 7 -2 $2 -1 Pizza Slice 8 -6 $2 -3 Funnel Cake 1 50 $4 12.5 Funnel Cake 2 40 $4 10 Funnel Cake 3 32 $4 8