Table 10-2 Table 10-2 Above Shows Keira's Utility from Soup and Sandwiches

question 51

Multiple Choice

Table 10-2

Table 10-2 above shows Keira's utility from soup and sandwiches. The price of soup is $2 per cup and the price of a sandwich is $3. Keira has $18 to spend on these two goods.
-Refer to Table 10-2.What is Keira's marginal utility per dollar spent on the third cup of soup?

• A)72 utils
• B)36 utils
• C)12 utils
• D)6 utils

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Definitions:

Mandatory

Required or compulsory, often by law or regulation, meaning something that must be done or adhered to.

United Kingdom

A sovereign country located off the northwestern coast of mainland Europe, comprising England, Scotland, Wales, and Northern Ireland.

Hierarchy of Effects

A model that outlines the sequential steps consumers typically go through, from awareness to knowledge, liking, preference, conviction, and finally purchase.

Stages

The distinct phases or steps within a process or life cycle.