Table 7-4 -Refer to Table 7-4

question 207

Multiple Choice

Table 7-4
$$\begin{array} { | c | c | c | c | c | } \hline & \text { Steak \& Cheese } & \text { Steak \& Cheese } & \text { Grilled Chicken } & \text { Grilled Chicken } \\\hline \text { Quantity } & \boldsymbol { M U } & \boldsymbol { M U / \boldsymbol { P } } & \boldsymbol { M U } & \boldsymbol { M U / P } \\\hline 1 & 40 & 10 & 30 & 15 \\\hline 2 & 32 & 8 & 24 & 12 \\\hline 3 & 20 & 5 & 16 & 8 \\\hline 4 & 12 & 3 & 12 & 6 \\\hline 5 & 6 & 1.5 & 8 & 4 \\\hline 6 & 2 & 0.5 & 4 & 2 \\\hline\end{array}$$
-Refer to Table 7-4.For steak and cheese and grilled chicken sandwiches,the table contains the values of the marginal utility (MU) and marginal utility per dollar (MU/P) for Mabel Jarvis.Mabel has $14 to spend on steak and cheese and grilled chicken sandwiches.Which of the following statements is false?

• A)The price of steak and cheese sandwiches is $4.The price of grilled chicken sandwiches is $2.
• B)If Mabel maximizes her utility she will buy three grilled chicken sandwiches.
• C)If Mabel maximizes her utility she will buy two steak and cheese sandwiches.
• D)We do not have enough information to determine how many sandwiches Mabel will buy to maximize her utility.

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Definitions:

\(a _ { 5 }\)

Typically denotes the fifth term in a sequence or series, depending on the context of its use.

\(\left( - \frac { 1 } { 5 } \right) ^ { n }\)

This represents a mathematical expression indicating the nth power of \(-\frac{1}{5}\).

Arithmetic

A branch of mathematics dealing with numbers and basic operations such as addition, subtraction, multiplication, and division.

Common Difference

The constant difference between successive terms of an arithmetic sequence.