(Table: Marginal Utility Schedule for Joachim) Looking at the Table

question 11

Multiple Choice

(Table: Marginal Utility Schedule for Joachim) Looking at the table, will Joachim be maximizing his utility if he has $71 to spend and buys a bundle of four movie tickets, three hamburgers, two pairs of socks, and one box of tissues?
$\begin{array}{|l|c|c|c|c|}\hline & \begin{array}{c}M U \text { movie ticket } \\P=\$ 10\end{array} & \begin{array}{c}M U \text { hamburger } P= \\\$ 5\end{array} & \begin{array}{c}M U \text { pair of socks } \\P=\$ 4\end{array} & \begin{array}{c}M U \text { box of tissues } \\P=\$ 3\end{array} \\\hline \text { 1st } & 30 & 17 & 6 & 3 \\\hline \text { 2nd } & 25 & 12.5 & 3 & 2 \\\hline \text { 3rd } & 18 & 10 & 1 & 1 \\\hline \text { 4th } & 8 & 4 & 0 & 0 \\\hline 5 \text { th } & 0 & 0 & & \\\hline\end{array}$

• A) Yes, because MU/P is equal across all the goods.
• B) Yes, because MU is at its maximum for the last unit bought of each good.
• C) No, because he did not buy the units with the highest MU.
• D) No, because MU/P is not equal across all the goods.

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Definitions:

Analogy Reversal

The process of flipping an analogy to illustrate a point or to create a counterargument.

Opponent

A person or group competing against another in a contest, fight, game, or debate.

Burden Of Proof

The obligation to present evidence to support one's claim or argument in a debate or legal case.

Inductive Components

Components involved in inductive reasoning, where generalizations are made from specific observations.