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Justin stopped at the gas station on the way to campus and bought four candy bars, two 20-ounce bottles of juice, and 10 gallons of gas. His marginal-utility-to-price ratios are 3.2 for the candy bars, 4.8 for the juice, and 5.7 for the gas. Explain why this set of purchases did not maximize Ryan's utility and how could he have increased his utility.
Central Executive
A component of working memory model that coordinates the activities of the phonological loop and the visuospatial sketchpad by managing cognitive processes like attention and problem-solving.
Permanent Memory
A long-term memory that can store information indefinitely.
Phonological Loop
A component of working memory responsible for the storage and manipulation of verbal and auditory information.
Episodic Memory
The aspect of memory that involves the recall of specific events, situations, and experiences.
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