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

question 153

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 $.50 each. What quantity of sodas does Tom purchase at his consumer equilibrium?

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

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Definitions:

Proof Required

A stipulation that demands evidence or substantiation to support a claim or assertion.

State Law

Law established by each state in the United States, governing within its own territory and subject to the federal constitution.

Risk-Utility Analysis

An assessment method used to determine if the benefits of a certain action or product outweigh its risks, often used in product liability law.

Sperry-New Holland

A brand known for its agricultural machinery and equipment, historically significant in the mechanization of agriculture.