Examlex

Solved

(Figure: Utility Table I) in the Table, Assume That a Consumer

question 61

Multiple Choice

(Figure: Utility Table I) In the table, assume that a consumer has a budget of $6, pizza costs $3 per slice, and soda costs $2 per can. Utility will be maximized by buying:
 Pizza  Soda  Quantity  Total Utility 001722108312641375144 Quantity  Total Utility 00148284310841205127\begin{array}{l}\quad\quad\quad\quad\quad\text { Pizza } \quad\quad\quad\quad\quad\quad\quad\quad\quad\text { Soda }\\\begin{array}{|c|c|}\hline \text { Quantity } & \text { Total Utility } \\\hline 0 & 0 \\\hline 1 & 72 \\\hline 2 & 108 \\\hline 3 & 126 \\\hline 4 & 137 \\\hline 5 & 144 \\\hline\end{array}\begin{array}{c|c|}\hline \text { Quantity } & \text { Total Utility } \\\hline 0 & 0 \\\hline 1 & 48 \\\hline 2 & 84 \\\hline 3 & 108 \\\hline 4 & 120 \\\hline 5 & 127 \\\hline\end{array}\end{array}


Definitions:

Blue Eyes

A specific eye color that results from a lack of melanin in the iris, leading to a blue appearance due to light scattering.

Illusory Correlation

The perception of a relationship between two variables when no such relationship exists or is weaker than perceived.

Accurately Predict

The ability to foresee or anticipate an event correctly based on existing information or models.

Search Engine

A search engine is a software system designed to carry out web searches, enabling users to find information on the internet by entering keywords or queries.

Related Questions