The Price of a Hamburger Is $1, the Price of a Movie

question 371

Multiple Choice

The price of a hamburger is $1, the price of a movie is $5, and the consumer has $13. A consumer has purchased 3 hamburgers and two movies, receiving 10 units of utility for the last hamburger and 10 units of utility for the last movie. The set of goods

• A) is an optimum since the entire income is spent and the marginal utility is the same for the last unit of each good.
• B) is an optimum because the consumer has maximized her utility given the limited income she had.
• C) is not an optimum because the marginal utility per dollar spent is greater for the hamburger than for the movie.
• D) is not an optimum because the marginal utility for the second hamburger was less than the marginal utility for the first hamburger.

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Definitions:

Pathogen

Disease-causing agent such as viruses, parasitic bacteria, fungi, and animals.

Disease-causing Agents

Pathogens or microorganisms such as bacteria, viruses, fungi, or parasites that can cause disease in their host.

Bacteria

Microscopic, single-celled organisms that inhabit virtually all environments on Earth, including soil, water, organic matter, and the bodies of plants and animals.

Lymphatic Vessels

Thin-walled vessels structured like blood veins, responsible for transporting lymph and immune cells throughout the body.