34) Consider Dianna who has a $25 fast food budget per month. She can purchase salads (S), hamburgers (H), orchicken strips (C). The price of a salad is Ps=$3, the price of a hamburger is PB-$2 and the price of chicken strips isPc $4. Fill in the table below. You will use your solutions to answer questions 34-36.#Hamburgers#Salads122MUSalads3630c) 4; 3; 4d) 5; 4; 5MU/PSalads12345MUhamburgers5In the optimal consumption bundle for Dianna, she will purchasechicken strips.a) 2; 1; 2b) 3; 2; 328221636) Dianna total utility from her consumption bundle isa) 126b) 504c) 106d) 398MU/P#Hamburgers ChickenStripsT237salads,4535) Dianna's utility is maximized where the marginal utility per dollar spent on each item is equal toa) $10b) $12c) $14d) $16MUChickenStrips7264564840hamburgers, andMU/PChickenStrips

The marginal utility table is given below SaladsMU SaladsMU/P SaladsHamburgersMU HamburgersMU/P…

34) Consider Dianna who has a $25 fast food budget per month. She can purchase salads (S), hamburgers (H), or chicken strips (C). The price of a salad is Ps=$3, the price of a hamburger is PB-$2 and the price of chicken strips is Pc $4. Fill in the table below. You will use your solutions to answer questions 34-36. # Salads 1 2 3 4 5 MU Salads b) 3; 2; 3 c) 4; 3; 4 d) 5; 4; 5 54 48 42 36 30 b) $12 c) $14 d) $16 MU/P Salads # Hamburgers 1 2 3 4 5 MU hamburgers In the optimal consumption bundle for Dianna, she will purchase chicken strips. a) 2; 1; 2 34 28 22 16 10 36) Dianna total utility from her consumption bundle is a) 126 b) 504 c) 106 d) 398 MU/P # Hamburgers Chicken Strips 1 2 7 salads, 3 4 5 MU Chicken 35) Dianna's utility is maximized where the marginal utility per dollar spent on each item is equal to a) $10 Strips 72 MU/P Chicken Strips 64 56 48 40 hamburgers, and

34) Consider Dianna who has a $25 fast food budget per month. She can purchase salads (S), hamburgers (H), or chicken strips (C). The price of a salad is Ps=$3, the price of a hamburger is PB-$2 and the price of chicken strips is Pc $4. Fill in the table below. You will use your solutions to answer questions 34-36. # Salads 1 2 3 4 5 MU Salads b) 3; 2; 3 c) 4; 3; 4 d) 5; 4; 5 54 48 42 36 30 b) $12 c) $14 d) $16 MU/P Salads # Hamburgers 1 2 3 4 5 MU hamburgers In the optimal consumption bundle for Dianna, she will purchase chicken strips. a) 2; 1; 2 34 28 22 16 10 36) Dianna total utility from her consumption bundle is a) 126 b) 504 c) 106 d) 398 MU/P # Hamburgers Chicken Strips 1 2 7 salads, 3 4 5 MU Chicken 35) Dianna's utility is maximized where the marginal utility per dollar spent on each item is equal to a) $10 Strips 72 MU/P Chicken Strips 64 56 48 40 hamburgers, and

Microeconomics

13th Edition

ISBN:9781337617406

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter7: Consumer Choice: Maximizing Utility And Behavioral Economics

Section: Chapter Questions

Problem 6WNG

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Similar questions

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