Table 10-3 -Refer to Table 10-3.The Table Above Shows Lee's Marginal Utility

question 207

Multiple Choice

Table 10-3

-Refer to Table 10-3.The table above shows Lee's marginal utility per dollar from consuming ice cream cones and cans of Lime Fizz Soda.The price of an ice cream cone is $2 and the price of Lime Fizz Soda is $1.Use this information to select the correct statement.

• A)We cannot determine how many ice cream cones and cans of Lime Fizz Soda Lee will consume without knowing what his budget is.
• B)To maximize his utility Lee should consume 1 ice cream cone and 5 cans of Lime Fizz Soda.
• C)We cannot determine how many ice cream cones and cans of Lime Fizz Soda will maximize Lee's utility because we are given only the marginal utility per dollar values. We also need to know the marginal utility for each quantity.
• D)If Lee has an unlimited budget he will maximize his utility by buying only Lime Fizz Soda.

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Definitions:

Scapula

A flat, triangular-shaped bone that forms part of the shoulder girdle, providing attachment sites for muscles of the shoulder.

Anterior Side

The front side of the body or any anatomical structure.

Rotator Cuff

A group of muscles and tendons that surround the shoulder joint, keeping the head of the upper arm bone firmly within the shallow socket of the shoulder.

Lesser Tubercles

Lesser Tubercles are small, rounded projections found on the humerus bone near the shoulder, playing a vital role in arm movement by providing attachment points for muscles.