Suppose Isaac's Marginal Utility from Attending His 5th White Sox

question 22

Multiple Choice

Suppose Isaac's marginal utility from attending his 5th White Sox game was 40 and the marginal utility from attending his 1st U2 concert was 200. Assume that the price of a Sox ticket is $20 and the price of a U2 ticket is $120. Which of the following would be true?

• A) Isaac would attend more U2 concerts and less Sox games.
• B) Isaac would attend more Sox games and less U2 concerts.
• C) Isaac would not alter his behavior.
• D) Isaac would attend less of both Sox games and U2 concerts.

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Definitions:

Cashier's Check

A check issued by a bank, drawn on its own funds and signed by a cashier, guaranteeing payment.

Liable

The condition of being legally accountable for specific actions or responsibilities, particularly in relation to debts or legal duties.

Oral Stop-Payment Order

A verbal instruction to a financial institution to cancel the payment process of a check or transaction.

Good

An item or product that is manufactured or produced for sale, often tangible, and exchanged in the marketplace.