Total Utility from Hamburgers Total Utility from Fries Total Utility from Cokes

Question

Total Utility
from
Hamburgers Total Utility
from
Fries Total Utility
from
Cokes
1 hamburger (100 utils) 1 order of fries (30 utils) 1 Coke (40 utils)
2 hamburgers (180 utils) 2 orders of fries (50 utils) 2 Cokes (60 utils)
3 hamburgers (240 utils) 3 orders of fries (60 utils) 3 Cokes (70 utils)



In Exhibit 6-2, assume that the price of hamburgers is $2 each, fries cost 50 cents each, and Cokes cost $1 each. Suppose the consumer has $6 to spend on hamburgers, fries, and Cokes. In the consumer equilibrium, what is the marginal utility per dollar for each of the three goods?
Answer
a. 20 utils per dollar.
b. 40 utils per dollar.
c. 90 utils per dollar.
d. 270 utils per dollar.
.

Explanation / Answer

c. 90 utils per dollar.

Related Questions

Navigate

• Browse (All)
• Browse T
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.