Refer to the Accompanying Table to Answer the Questions

question 116

Multiple Choice

Refer to the accompanying table to answer the questions. $\begin{array}{cccc}\text { Cluss } & \text { Marginal } & \text { Soda } & \text { Marginal } \\\text { Consumed } & \text { Utility } & \text { Consumed } & \text { Utility } \\0&-&0&-\\1 & 18 & 1 & 12 \\2 & 15 & 2 & 10 \\3 & 12 & 3 & 8 \\4 & 9 & 4 & 6 \\5 & 6 & 5 & 4 \\6 & 3 & 6 & 2 \\7 & 0 & 7 & 0\end{array}$
-For 2 chips and 5 sodas to be a combination of goods that maximizes your utility per dollar, the price of chips must be ____________ if the price of soda is $1.00.

• A) $2.00
• B) $3.00
• C) $2.50
• D) $3.50
• E) $3.75

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Definitions:

English Aristocrats

Members of the highest class in certain societies, especially those holding hereditary titles or offices in England, often with significant influence over governance and culture.

Salem Witch Trials

A series of hearings and prosecutions of people accused of witchcraft in colonial Massachusetts between February 1692 and May 1693.

Massachusetts Governor

The executive head of the state of Massachusetts, responsible for enforcing state laws and overseeing the administration of the state government.

Increase Mather

A prominent Puritan clergyman in colonial America, known for his role in the administration of the Massachusetts Bay Colony and his involvement in the Salem witch trials.