Juan and Sophia Have Decided to Stop Studying Economics and Get

question 370

Multiple Choice

Juan and Sophia have decided to stop studying economics and get a bite to eat. Juan wants to go for a pizza and Sophia wants a hamburger. They decide to go for pizza. What can we conclude from this?

• A) Juan always gets more utility from pizza than Sophia does.
• B) Sophia gets less utility from pizza than she could from a hamburger.
• C) Sophia will get negative utility from the pizza.
• D) Utility analysis does not work here since Sophia did not eat a hamburger.

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Definitions:

Demand

The amount of a product or service that buyers are prepared and capable of buying at different price levels.

Gasoline Demanded

The quantity of gasoline consumers are willing and able to purchase at a given price within a specified period.

Buick Owner

An individual or entity that possesses a vehicle manufactured by the Buick division of General Motors.

Dodge Owner

An individual who owns a vehicle manufactured by Dodge, an American brand of automobiles and a division of Stellantis.