TotalTotalUtilityUtility61010141315151516730. If the consumer has only $8 to spend, what would be the optimal consumption of both goods for this consumer?GitheOHDCNumberof Colas1234D5a. 4 colas and 2 burgers.b. 5 colas and 1 burger.c. 2 colas and 3 burgers.d. 4 colas and 4 burgers.MUC64321MU/S64321Numberof Burgers12345MUbwwwww10410-8MU/$520.50-4

Utility is defined as the total satisfaction that the consumer derives from consumption of the…

30. If the consumer has only $8 to spend, what would be the optimal consumption of both goods for this consumer? a. 4 colas and 2 burgers. O b. 5 colas and 1 burger. O c. 2 colas and 3 burgers. O d. 4 colas and 4 burgers.

30. If the consumer has only $8 to spend, what would be the optimal consumption of both goods for this consumer? a. 4 colas and 2 burgers. O b. 5 colas and 1 burger. O c. 2 colas and 3 burgers. O d. 4 colas and 4 burgers.

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter4: Utility Maximization And Choice

Section: Chapter Questions

Problem 4.3P

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Question

Total
Total
Utility
Utility
6
10
10
14
13
15
15
15
16
7
30. If the consumer has only $8 to spend, what would be the optimal consumption of both goods for this consumer?
Githe
O
HD
C
Number
of Colas
1
2
3
4
D
5
a. 4 colas and 2 burgers.
b. 5 colas and 1 burger.
c. 2 colas and 3 burgers.
d. 4 colas and 4 burgers.
MUC
6
4
3
2
1
MU/S
6
4
3
2
1
Number
of Burgers
1
2
3
4
5
MUb
wwwww
10
4
1
0
-8
MU/$
5
2
0.5
0
-4

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