Milkshakes Sodas -The Table Above Shows Tom's Total Utility from Milkshakes and Utility

question 58

Multiple Choice

Milkshakes Sodas

-The table above shows Tom's total utility from milkshakes and sodas. Tom's total budget for milkshakes and sodas is $20.00 per week. Milkshakes cost $2.00 each and sodas cost $1.00 each. What quantity of milkshakes does Tom purchase at his consumer equilibrium?

• A) five
• B) six
• C) seven
• D) eight

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Definitions:

Investment Portfolio

A group of stocks and/or debt securities in different corporations held for investment purposes.

Consolidated Portfolio

A comprehensive account of the combined assets, liabilities, and investment holdings of a parent company and its subsidiaries.

Controlling Interest

Controlling interest is an ownership interest in a corporation that gives the shareholder sufficient voting power to influence or direct the company's management and policies.

Common Stock

Equity ownership in a corporation, representing a claim on its earnings and assets, and conferring voting rights in certain corporate decisions.