(Table: Utility from Milk and Honey) Look at the Table

question 275

Essay

(Table: Utility from Milk and Honey) Look at the table Utility from Milk and Honey.Max's marginal utilities for milk and honey are given in the table.The price of milk is $2 and the price of honey is $4.If Max's income is $16, how much milk and how much honey does he buy to maximize his utility?
A.1 bottle of milk and 1 jar of honey
B.4 bottles of milk and 2 jars of honey
C.5 bottles of milk and 4 jars of honey
D.6 bottles of milk and 0 jars of honey

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