Suppose Joe Is Maximizing Total Utility Within His Budget Constraint

question 19

Multiple Choice

Suppose Joe is maximizing total utility within his budget constraint.If the price of the last pair of jeans purchased is $25 and it yields 100 units of extra satisfaction and the price of the last shirt purchased is $20, then, using the rule of equal marginal utility per dollar spent, the extra satisfaction received from the last shirt must be

• A)2,000 units of utility.
• B)500 units of utility.
• C)100 units of utility.
• D)80 units of utility.

---

Definitions:

Golden Hamsters

Small rodents originally from Syria, popular as household pets due to their docile nature and ease of care.

Cowards

Individuals who lack courage or are excessively afraid of danger, pain, or difficult situations.

Securely Attached

A term from attachment theory describing individuals who have developed healthy relationships and trust in the reliability and availability of their attachment figures.

Bullies

Individuals who seek to harm, intimidate, or coerce someone perceived as vulnerable, often through repeated aggressive behavior.