(Table) in the Table, Assume That a Consumer Has a Budget

question 268

Multiple Choice

(Table) In the table, assume that a consumer has a budget of $12, water costs $2 per bottle, and chips cost $3 per bag. Utility will be maximized by buying
$\begin{array}{l}\hline \quad \quad \quad {\text { Bottled Water }} \quad \quad \quad \quad \quad \quad \quad {\text { Bags of Chips }} \\\begin{array}{|c|c|c|c|}\hline \text { Quantity } & \text { Total Utility } & \text { Quantity } & \text { Total Utility } \\\hline 0 & 0 & 0 & 0 \\\hline 1 & 40 & 1 & 60 \\\hline 2 & 70 & 2 & 90 \\\hline 3 & 90 & 3 & 105 \\\hline 4 & 100 & 4 & 114 \\\hline 5 & 106 & 5 & 120 \\\hline\end{array}\end{array}$

• A) no water and four bags of chips.
• B) three bottles of water and two bags of chips.
• C) two bottles of water and three bags of chips.
• D) three bottles of water and three bags of chips.

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Definitions:

Task-Oriented

Focused on completing specific tasks or objectives, often prioritizing work efficiency and achievement of results over personal relationships.

Self-Oriented

Pertains to behaviors or attitudes focused on one's own needs, desires, or interests rather than those of others.

Diagnose

The process of identifying the nature or cause of a certain phenomenon, often applied to finding out the reasons behind a problem or condition.

Informal Groups

Groups that form naturally within an organization based on personal relationships or shared interests, as opposed to being formally structured by the organization.