Dali enjoys cool drink (c) and steak (s) for lunch. His monthly lunch budget is R600. His total utility schedule is shown in the table below. Which quantities of beer and steak will he consume at consumer equilibrium?

Principles of Economics, 7th Edition (MindTap Course List)
7th Edition
ISBN:9781285165875
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter21: The Theory Of Consumer Choice
Section: Chapter Questions
Problem 13PA
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Dali enjoys cool drink (c) and steak (s) for
lunch. His monthly lunch budget is R600. His
total utility schedule is shown in the table
below. Which quantities of beer and steak
will he consume at consumer equilibrium?
cool drink
steak
Price
R30
R40
TUC
Tus
269
491
279
511
285
523
18
288
530
289
534
289
536
a. 10 cool drinks and 9 steaks
b. 9 cool drinks and 8 steaks
C.
10 cool drinks and 10 steaks
19
ΠΟ
ķ
Transcribed Image Text:Dali enjoys cool drink (c) and steak (s) for lunch. His monthly lunch budget is R600. His total utility schedule is shown in the table below. Which quantities of beer and steak will he consume at consumer equilibrium? cool drink steak Price R30 R40 TUC Tus 269 491 279 511 285 523 18 288 530 289 534 289 536 a. 10 cool drinks and 9 steaks b. 9 cool drinks and 8 steaks C. 10 cool drinks and 10 steaks 19 ΠΟ ķ
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