Bobby Consumes Only Chocolate Ice Cream and Vanilla Ice Cream

question 308

Multiple Choice

Bobby consumes only chocolate ice cream and vanilla ice cream. He is spending all of his income. His marginal utility of chocolate is 100 and his marginal utility of vanilla is 200, and the price of chocolate is $1.00 per scoop and the price of vanilla is $2.00 per scoop. To maximize his utility, Bobby should

• A) buy more chocolate ice cream and less vanilla ice cream.
• B) buy more vanilla ice cream and less chocolate ice cream.
• C) not change his purchases between chocolate ice cream and vanilla ice cream.
• D) buy no chocolate ice cream.

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Definitions:

Manufacturer

A person or company that makes goods for sale, especially on a large scale or with industrial processes.

Alfred Adler

Austrian psychiatrist and founder of Individual Psychology, emphasizing the importance of the feeling of inferiority in the development of personality.

Inferiority Complex

A psychological condition that arises from feelings of inadequacy and insecurity, often leading to overcompensation or social withdrawal.

Achievement

The successful attainment of goals, tasks, or challenges, often recognized by awards, honors, or a sense of personal fulfillment.