Bob Values the Utility of a Single Scoop of Baskin-Robbins

question 49

Essay

Bob values the utility of a single scoop of Baskin-Robbins ice cream at $1.50. A double scoop gives total utility of $2.25, while a triple scoop yields $2.60. Baskin-Robbins charges $1.35 for a single, $1.95 for a double, and $2.35 for a triple. How many scoops will Bob buy?

---

Definitions:

Annual Tax Bill

The total amount of tax owed by an individual or corporation in a given fiscal year.

Taxable Income

The amount of income that is used to calculate how much tax an individual or a company owes to the government.

Part-time Janitor

A Part-time Janitor is an individual employed on a less than full-time basis to perform cleaning and maintenance duties in a building or facility.

Semiannual Payment

A payment made twice a year, often used in terms of loan repayments or investment returns.