Suppose that Elif spends her income on shoes and outfits. The price of a shoe is 100/unit and the price of an outfit is 200/unit.   Q shoes   outfits     total utility marginal util. MU/Ps total utility marginal util. MU/Po 1 1000     1800     2 1700     3000     3 2000     4000     4 2200     4600       15) What is the quantity of shoes and outfits that maximizes Elif’s utility? a) 3 shoes and 3 outfits b) 4 shoes and 2 outfits c) 3 shoes and 4 outfits d) 4 shoes and 3 outfits

Economics: Private and Public Choice (MindTap Course List)
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Chapter20: Consumer Choice And Elasticity
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For questions 15-16 make use of the following information and table.

 

Suppose that Elif spends her income on shoes and outfits. The price of a shoe is 100/unit and the price of an outfit is 200/unit.

 

Q

shoes

 

outfits

 

 

total utility

marginal util.

MU/Ps

total utility

marginal util.

MU/Po

1

1000

 

 

1800

 

 

2

1700

 

 

3000

 

 

3

2000

 

 

4000

 

 

4

2200

 

 

4600

 

 

 

15) What is the quantity of shoes and outfits that maximizes Elif’s utility?

a) 3 shoes and 3 outfits

b) 4 shoes and 2 outfits

c) 3 shoes and 4 outfits

d) 4 shoes and 3 outfits

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