Assume That an Individual Consumes Only Hotdogs and Colas and That

question 37

Multiple Choice

Assume that an individual consumes only hotdogs and colas and that the last hotdog consumed yields 15 utils and the last cola 10 utils. If the price of a hotdog is $1 and the price of a cola is $.50, we can conclude that the:

• A) consumer should consume more hotdogs and less cola.
• B) price of hotdogs is too high.
• C) consumer should consume fewer hotdogs and more cola.
• D) consumer is in equilibrium.

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