Refer to the table for the next 4 questions Strawberries Total Apples Consumed Total Consumed Utility Utility 1 14 13 2 26 18 3 36 4 22 4 44 25 50 6. 27 6. 54 28 56 #12. Assume that strawberries cost $1 and apples cost $2. Which of the following combination of strawberries and apples satisfies the optimal consumption rule? a. 2 strawberries and 4 apples. b. 6 strawberries and 5 apples. c. 5 strawberries and 5 apples. d. 3 strawberries and 2 apples. e. 6 strawberries and 7 apples. #13. Assume that strawberries cost $1 and apples cost $2. If a consumer has $8, the bundle of goods that would maximize her utility per dollar and remain within her budget would be a. O strawberries and 4 apples. b. 6 strawberries and 5 apples. c. 6 strawberries and 1 apple. d. 4 strawberries and 2 apples. e. 2 strawberries and 3 apples.

Microeconomic Theory
12th Edition
ISBN:9781337517942
Author:NICHOLSON
Publisher:NICHOLSON
Chapter13: General Equilibrium And Welfare
Section: Chapter Questions
Problem 13.4P
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Refer to the table for the next 4 questions
Strawberries
Total
Apples
Consumed
Total
Consumed
Utility
Utility
1
14
13
2
26
18
3
36
4
22
4
44
25
50
6.
27
6.
54
28
56
#12. Assume that strawberries cost $1 and apples cost $2. Which of the following combination
of strawberries and apples satisfies the optimal consumption rule?
a. 2 strawberries and 4 apples.
b. 6 strawberries and 5 apples.
c. 5 strawberries and 5 apples.
d. 3 strawberries and 2 apples.
e. 6 strawberries and 7 apples.
#13. Assume that strawberries cost $1 and apples cost $2. If a consumer has $8, the bundle of
goods that would maximize her utility per dollar and remain within her budget would be
a. O strawberries and 4 apples.
b. 6 strawberries and 5 apples.
c. 6 strawberries and 1 apple.
d. 4 strawberries and 2 apples.
e. 2 strawberries and 3 apples.
Transcribed Image Text:Refer to the table for the next 4 questions Strawberries Total Apples Consumed Total Consumed Utility Utility 1 14 13 2 26 18 3 36 4 22 4 44 25 50 6. 27 6. 54 28 56 #12. Assume that strawberries cost $1 and apples cost $2. Which of the following combination of strawberries and apples satisfies the optimal consumption rule? a. 2 strawberries and 4 apples. b. 6 strawberries and 5 apples. c. 5 strawberries and 5 apples. d. 3 strawberries and 2 apples. e. 6 strawberries and 7 apples. #13. Assume that strawberries cost $1 and apples cost $2. If a consumer has $8, the bundle of goods that would maximize her utility per dollar and remain within her budget would be a. O strawberries and 4 apples. b. 6 strawberries and 5 apples. c. 6 strawberries and 1 apple. d. 4 strawberries and 2 apples. e. 2 strawberries and 3 apples.
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