A) Refer to the table with Alpo and McBurgers. If the price of one can of Alpo is $0.50 and the price of each McBurger is $1, which of the following would Ms. Tightwad, a utility-maximizing consumer, buy with her $4?
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4 McBurgers |
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3 McBurgers and 2 cans of Alpo |
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2 McBurgers and 4 cans of Alpo |
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1 McBurger and 6 cans of Alpo |
B) Refer to the table with Alpo and McBurgers. If the price of one can of Alpo is $1.00 and the price of each McBurger is $1, which of the following would Ms. Tightwad, a utility-maximizing consumer, buy with her $4?
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4 McBurgers |
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3 McBurgers and 1 can of Alpo |
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2 McBurgers and 2 cans of Alpo |
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1 McBurger and 3 cans of Alpo |
Homework Answers
Answer : A) The answer is option B.
For option A : Total utility of 4 McBurgers = 40
For option B : Total utility of 3 McBurgers and 2 cans of Alpo = 36 + 13 = 49
For option C : Total utility of 2 McBurgers and 4 cans of Alpo = 28 + 17 = 45
For option D : As for option D 6 cans of Alpo's total utility is not given hence this option is not correct.
Now here we can see that only for option B the utility is maximum. So, option B is correct.
B) The answer is option B.
For option A : Total utility of 4 McBurgers = 40
For option B : Total utility of 3 McBurgers and 1 can of Alpo = 36 + 7 = 43
For option C : Total utility of 2 McBurgers and 2 cans of Alpo = 28 + 13 = 41
For option D : Total utility of 1 McBurger and 3 cans of Alpo = 16 + 16 = 32
Now here we can see that only for option B the utility is maximum. So, option B is correct.
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