A consumer is stocking up on sodas and sports drinks at the dollar store. As you might expect at a dollar store, each bottle of each drink costs $1, and the consumer has a $10 bill to spend. Based on the table below showing the consumer's marginal utilities, find the optimal consumption bundle. The optimal consumption bundle will be sodas and sports drinks. Quantity of a Marginal utility of Marginal utility of a soda a sports drink good 1 2 10 8 8 7 3 6 6 4 5 5 5 4 4 6 3 3 7 2 2
A consumer is stocking up on sodas and sports drinks at the dollar store. As you might expect at a dollar store, each bottle of each drink costs $1, and the consumer has a $10 bill to spend. Based on the table below showing the consumer's marginal utilities, find the optimal consumption bundle. The optimal consumption bundle will be sodas and sports drinks. Quantity of a Marginal utility of Marginal utility of a soda a sports drink good 1 2 10 8 8 7 3 6 6 4 5 5 5 4 4 6 3 3 7 2 2
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter6: Consumer Choice Theory
Section: Chapter Questions
Problem 5SQP
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Transcribed Image Text:A consumer is stocking up on sodas and sports drinks at the dollar store. As you
might expect at a dollar store, each bottle of each drink costs $1, and the consumer
has a $10 bill to spend. Based on the table below showing the consumer's marginal
utilities, find the optimal consumption bundle.
The optimal consumption bundle will be
sodas and
sports drinks.
Quantity of a Marginal utility of Marginal utility of
a soda
a sports drink
good
1
2
10
8
8
7
3
6
6
4
5
5
5
4
4
6
3
3
7
2
2
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