Table 7-1 Keegan Has $30 to Spend on Pita Wraps and Bubble

question 123

Multiple Choice

Table 7-1
$$\begin{array} { | c | c | c | c | } \hline \begin{array} { c } \text { Quantity of } \\\text { Pita Wraps }\end{array} & \text { Total Utility } & \begin{array} { c } \text { Quantity of } \\\text { Bubble Tea }\end{array} & \text { Total Utility } \\\hline 1 & 60 & 1 & 40 \\\hline 2 & 102 & 2 & 70 \\\hline 3 & 132 & 3 & 91 \\\hline 4 & 144 & 4 & 106 \\\hline 5 & 144 & 5 & 112 \\\hline 6 & 138 & 6 & 115 \\\hline 7 & 128 & 7 & 115 \\\hline\end{array}$$
Keegan has $30 to spend on Pita Wraps and Bubble Tea.The price of a Pita Wrap is $6 and the price of a glass of Bubble Tea is $3. Table 7-1 shows his total utility from different quantities of the two items.
-Refer to Table 7-1.If Keegan can drink all the bubble tea he wants for free,how many glasses will he consume?

• A)4 glasses
• B)5 glasses
• C)6 glasses
• D)7 glasses

Explore the differences in labor market conditions among various countries.

Assess the role of education and occupational choice in labor market outcomes.

Understand the factors contributing to the fall in real wages in the U.S. since 1973.

Grasp the concepts of the income effect and the substitution effect in labor economics.

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