(Table: Utility from Burgers and Milkshakes) Look at the Table

question 301

Essay

(Table: Utility from Burgers and Milkshakes) Look at the table Utility from Burgers and Milkshakes.David's marginal utilities for milkshakes and burgers are given in the table.The price of milkshakes is $2, and the price of burgers is $5.If David's income is $22, how many milkshakes and how many burgers does he buy to maximize his utility?
A.1 shake and 1 burger
B.6 shakes and 0 burgers
C.5 shakes and 1 burger
D.6 shakes and 2 burgers

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Definitions:

Classical Conditioning

A learning process in which a natural response becomes triggered by a previously neutral stimulus by repeatedly associating it with a stimulus that automatically triggers that response.

Congruence

The state of agreement or harmony between objects, ideas, or values.

Collective Unconscious

A term coined by Carl Jung, referring to structures of the unconscious mind which are shared among beings of the same species.

Shared Environment

The environmental factors that contribute to the similarities in development and behavior among family members living in the same household.