Suppose That Fernando Allocates His Lunch Money to Pizza and Coke

question 197

Multiple Choice

Suppose that Fernando allocates his lunch money to pizza and Coke. A Coke costs $1 and a slice of pizza costs $1.50. The marginal utility of the last slice of pizza Fernando ate today was 30, and the marginal utility of his last Coke was 25. Fernando spent all of his lunch money. From this information, we can conclude that:

• A) Fernando allocated his money in a way that maximized his total utility.
• B) Fernando's total utility would have been higher if he had purchased more Coke and less pizza.
• C) Fernando's total utility would have been higher if he had purchased more pizza and less Coke.
• D) Fernando could have increased his total utility by purchasing more Coke but the same quantity of pizza.
• E) Fernando could have increased his total utility by purchasing more pizza but the same quantity of Coke.

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Definitions:

Cheapest Supply

The lowest cost option available in the marketplace for goods or services.

Concentrated Occupations

Fields of work where a significant majority of the workforce is of a particular gender, ethnicity, or other demographic marker.

Patriarchy

A societal structure where males dominate by having the main authority, leading in political powers, exerting moral influence, enjoying social advantages, and managing ownership of assets.

Society

A large group of individuals living together in a more or less ordered community with shared laws, traditions, and values.