Marginal utility Quantity of bottled water Quantity of hamburgers Marginal utility from from bottled water hamburgers 1 35 1 20 25 2 18 16 3 17 4 10 4 10 8. 6. 4. 6. 7 Given the data in the above table, if income is $16, and the price is $1 for a bottle of water and $2 for a hamburger, what is the quantity of water and the quantity of hamburgers that will maximize the consumer's total utility? 6 bottles of water and 6 hamburgers 5 bottles of water and 5 hamburgers 4 bottles of water and 6 hamburgers 6 bottles of water and 5 hamburgers

Marginal utility Quantity of bottled water Quantity of hamburgers Marginal utility from from bottled water hamburgers 1 35 1 20 25 2 18 16 3 17 4 10 4 10 8. 6. 4. 6. 7 Given the data in the above table, if income is $16, and the price is $1 for a bottle of water and $2 for a hamburger, what is the quantity of water and the quantity of hamburgers that will maximize the consumer's total utility? 6 bottles of water and 6 hamburgers 5 bottles of water and 5 hamburgers 4 bottles of water and 6 hamburgers 6 bottles of water and 5 hamburgers

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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