Suppose Barry Is Maximizing His Utility from Consuming Used Paperback

question 293

Multiple Choice

Suppose Barry is maximizing his utility from consuming used paperback novels and audio books.The price of a used novel = $4 and the price of an audio book = $8.If the marginal utility of the last novel was 32 units of utility (utils) what was the marginal utility of the last audio book purchased?

• A)2 utils
• B)12 utils
• C)16 utils
• D)64 utils

---

Definitions:

Charter Supervision

The regulation and oversight of organizations or bodies by a chartering authority to ensure compliance with standards and laws.

Natural Justice

Fundamental procedural legal principles ensuring fairness in the resolution of disputes, including the rights to a fair hearing and an unbiased decision.

Decision

A conclusion or resolution reached after consideration by an individual or authoritative body, especially in a legal context.

Fundamental Justice

A constitutional principle in Canadian law requiring fairness in legislation that affects individuals' rights.