Table 10-6 Table 10-6 Lists Jay's Marginal Utilities for Burgers and Pepsi

question 164

Multiple Choice

Table 10-6

Table 10-6 lists Jay's marginal utilities for burgers and Pepsi. Jay has $7 to spend on these two goods. The price of a burger is $2 and the price of a can of Pepsi is $1.
-Refer to Table 10-6.What is Jay's optimal consumption bundle?

• A)1 burger and 2 cans of Pepsi
• B)2 burgers and 3 cans of Pepsi
• C)3 burgers and 1 can of Pepsi
• D)3 burgers and 2 cans of Pepsi

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Definitions:

Marginal Utility

The additional satisfaction or benefit received by a consumer from consuming one more unit of a good or service.

Consumer Equilibrium

A state in microeconomics where a consumer achieves the highest satisfaction possible, given their income constraints and prices of goods and services.