Suppose That Coke and Sprite Each Sell for $2 a Can

question 12

Multiple Choice

Suppose that Coke and Sprite each sell for $2 a can. Each month Joe buys 6 cans of Sprite and 30 cans of Coke. From this we can infer that:

• A)Joe is buying too many cans of Sprite.
• B)Joe is buying too many cans of Coke.
• C)Joe is maximizing his utility if his marginal utility from the 6^th can of Sprite he buys is less than his marginal utility from the 30^th can of Coke he buys.
• D)Joe is maximizing his utility if his marginal utility from the 6^th can of Sprite he buys is equal to his marginal utility from the 30^th can of Coke he buys.

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Definitions:

"Page 1 Of 2" Format

A pagination format that indicates the current page being viewed out of the total number of pages.

Currency Format

A way of displaying numbers to represent monetary values, including symbols and decimal places relevant to a specific currency.

Currency Symbol

A graphic symbol used as a shorthand for a currency's name, particularly in relation to other currencies, such as the dollar sign ($), euro symbol (€), or yen symbol (¥).

Decimal Point

A dot (.) used to separate the whole number part from the fractional part of a number.