Quantity 1 2 3 4 Muffins Marginal Utility 80 70 O a. 145 utils. O b. 331 utils. O c. 96 utils. O d. 146 utils. O e. 56 utils. 60 50 Grapefruit Marginal Utility 75 72 66 62 5 40 56 Refer to the above information to answer this question. If Erica has a budget of $5 and the price of a muffin is $2 and a grapefruit is $1, what will be the total utility of her optimal purchase?
Quantity 1 2 3 4 Muffins Marginal Utility 80 70 O a. 145 utils. O b. 331 utils. O c. 96 utils. O d. 146 utils. O e. 56 utils. 60 50 Grapefruit Marginal Utility 75 72 66 62 5 40 56 Refer to the above information to answer this question. If Erica has a budget of $5 and the price of a muffin is $2 and a grapefruit is $1, what will be the total utility of her optimal purchase?
Chapter6: Consumer Choice Theory
Section: Chapter Questions
Problem 4SQP
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