Ricardo Buys Cola and Popcorn

question 102

Multiple Choice

Ricardo buys cola and popcorn. Cola sells for $0.50 a can and popcorn sells for $1 per bag. He is in consumer equilibrium. The price of a cola jumps to $1 per can. In his new consumer equilibrium, Ricardo's

• A) marginal utility of cola will be equal to his marginal utility of popcorn.
• B) marginal utility per dollar spent will be 2.
• C) total utility will be higher.
• D) marginal utility of cola will decrease.

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Definitions:

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