The Following Table Shows Mia's $ Marginal Utility for Litres

question 31

Multiple Choice

The following table shows Mia's $ marginal utility for litres of soya milk:

-Refer to the above table to answer this question.Suppose that Mia has a budget of $7 and the price of a litre of soya milk is $1,what is the maximum quantity that Mia might purchase?

• A)0.
• B)4 litres.
• C)5 litres.
• D)6 litres.
• E)Cannot be determined.

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Definitions:

Logistics Department

The division of a company responsible for the management of the movement and storage of materials, goods, and information.

Operating Divisions

Sections of a business organization that operate semi-autonomously, typically responsible for their own budgeting and profit and loss.

Variable Costs

Expenses that change in proportion to the level of production or sales volume.

Fixed Costs

Expenses that do not change regardless of the level of production, like leases and salaries.