The Following Table Shows the Utility (Measured in Dollars) Which

question 83

Multiple Choice

The following table shows the utility (measured in dollars) which Lisa derives from water (in 50 litre drums) and diamonds (uncut 1 carat stones) .
$$\begin{array} { c r r } \text { Quantity } & \begin{array} { r } \text { Water } \\\text { Total \$Utility }\end{array} & \begin{array} { r } \text { Diamonds } \\\text { Total \$Utility }\end{array} \\1 & 500 & 150 \\2 & 700 & 290 \\3 & 800 & 420 \\4 & 850 & 520 \\5 & 875 & 600 \\6 & 885 & 660\end{array}$$
-Refer to the above information to answer this question. If the price of both water and diamonds is $100 per unit, and Lisa has $500 to spend, how many units of each would she purchase?

• A) 5 water.
• B) 4 water and 1 diamond.
• C) 3 water and 2 diamonds.
• D) 2 water and 3 diamonds.
• E) 1 water and 4 diamonds.

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Definitions:

Knights of Labor

A significant American labor organization in the late 19th century, advocating for the rights of workers, including shorter workdays and an end to child labor.

Terrence V. Powderly

A leader of the Knights of Labor, a key labor organization in the United States during the late 19th century, which aimed to promote workers' rights and social reform.

African-Americans

An ethnic or racial group in the U.S. that has heritage from any of the African black racial groups.

Labor Movement

A social and economic campaign advocating for workers' rights and interests, including better pay, working conditions, and hours.