Joaquin's Marginal Utility from an Additional Slice of Pumpkin Pie

question 127

Multiple Choice

Joaquin's marginal utility from an additional slice of pumpkin pie is 4 utils and his marginal utility from an additional slice of pecan pie is 6 utils. If a slice of pumpkin pie costs $2.50, and a slice of pecan pie costs $3.00, then Joaquin:

• A)should reallocate his spending towards pumpkin pie and away from pecan pie.
• B)should reallocate his spending towards pecan pie and away from pumpkin pie.
• C)is maximizing his utility.
• D)should spend more on pumpkin pie and more pecan pie.

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Definitions:

Quantitative Analysis

In microbiology, a determination of the number of bacteria present in a specimen by direct count of colonies grown on a culture plate.

24-Hour Specimen

A collection of all urine produced by an individual in a 24-hour period, used for various diagnostic tests to identify abnormalities or monitor kidney function.

Chloride

A negatively charged ion (Cl-) that is most commonly found in table salt and is essential for maintaining fluid balance and blood pressure in the body.

Clean-Catch Midstream

A urine collection method where the sample is captured 'midstream' to minimize contamination from the external genitalia.