Table 21-1 the Relationship Between the Marginal Utility That George Gets from Gets

question 185

Multiple Choice

Table 21-1
The relationship between the marginal utility that George gets from eating a bag of cookies and the number of bags he eats per month is as follows:


-Refer to Table 21-1.George consumes two goods,milk and cookies.He has maximized his utility given his income.Milk costs $2 per litre and he consumes it to the point where the marginal utility he receives from milk is 8.Cookies cost $5 per bag.How many bags of cookies does George buy each month

• A)1
• B)2
• C)3

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Definitions:

Identical Twins

Twins who are genetically identical because they were formed from the same fertilized egg that split into two.

Language Acquisition Device (LAD)

A theoretical construct proposed by Noam Chomsky suggesting an innate mental faculty enabling young children to develop language.

Semantics

Semantics studies the meaning of words, phrases, and sentences in language.

Grammar

The system of rules governing the structure and use of a language.