Cookie Monster always consumes cookies and milk in fixed proportions: 4 cookies to 8 ounces of...
Cookie Monster always consumes cookies and milk in fixed proportions: 4 cookies to 8 ounces of milk. Which of the following combinations of cookies and milk will give Cookie Monster the highest total utility?
|
a |
4 cookies and 8 ounces of milk |
|
b |
4 cookies and 16 ounces of milk |
|
c |
4 cookies and 4 ounces of milk |
|
d |
8 cookies and 16 ounces of milk |
Homework Answers
Option a
For every one cookie, 2 ounces of milk gives the highest utility and hence the highest total utility is 4 cookies to 8 ounces of milk
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