The Table Below Shows the Total Value (In Dollars) That

question 91

Multiple Choice

The table below shows the total value (in dollars) that Andrew gets from playing 9- hole rounds of golf. $$\begin{array}{l}\begin{array} { | l | l | } \hline \begin{array} { l } \text { Rounds of } \\\text { Golf per } \\\text { Month }\end{array} & \begin{array} { l } \text { Total Value } \\( \$ ) \end{array} \\\hline 0 & 0 \\\hline 1 & 40 \\\hline 2 & 70 \\\hline 3 & 92 \\\hline 4 & 108 \\\hline 5 & 120 \\\hline 6 & 130 \\\hline 7 & 130 \\\hline\end{array}\\\text { TABLE 6- } 3\end{array}$$
-Refer to Table 6- 3. If the price of a 9- hole round of golf is $9, then Andrew will play times per month.

• A) 6
• B) 2
• C) 4
• D) 5
• E) 3

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Definitions:

Optimal Consumption Bundle

The blend of items and services that enhances a buyer's fulfillment to the fullest within their spending ability.

Consumption Bundle

A combination of goods and services that a consumer chooses to consume within a given time period.

Income

Funds acquired regularly as earnings from employment or investment returns.

Substitution Effect

The change in consumption patterns due to a change in relative prices, holding the consumer's utility level constant.