ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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The following table shows Madison's utility from consuming popcorn and Coke. Suppose that Madison has income of $51.00, the price of popcorn is $6.00, and the price of Coke is $13.50. If Madison wants to maximize her utility, how much popcorn and Coke should she buy? Madison should buy boxes of popcorn and Quantity 1 2 3 4 5 6 Popcorn Marginal Utility 192 144 96 48 24 12 cans of Coke. (Enter your responses as integers.) Coke Marginal Utility 144 108 72 36 18 9
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Transcribed Image Text:The following table shows Madison's utility from consuming popcorn and Coke. Suppose that Madison has income of $51.00, the price of popcorn is $6.00, and the price of Coke is $13.50. If Madison wants to maximize her utility, how much popcorn and Coke should she buy? Madison should buy boxes of popcorn and Quantity 1 2 3 4 5 6 Popcorn Marginal Utility 192 144 96 48 24 12 cans of Coke. (Enter your responses as integers.) Coke Marginal Utility 144 108 72 36 18 9
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