You are hungry and thirsty and have S45.00 in your wallet/purse. You want to max

Question

You are hungry and thirsty and have S45.00 in your wallet/purse. You want to maximize your utility and find your consumer optimum. Here is a table of your current situation Jamba Juice: $5.00 Teryaki Bowl: $5.00 Total Utility Teryaki Jamba Juice Bowl Total Utility 100 220 280 330 350 600 1100 1500 1600 1650 1. What is your marginal utility for Jamba Juice at 3 quantities? A. 120 B. 60 C. 50 D. 20 2. What is your marginal utlity for Jamba Juice at 5 quantities? A. 120 B. 60 C. 50 D. 20 3. What is your marginal utility for Teryaki Bowls at 2 quantities? A. 500 B. 400 C. 100 D. 50 4. What is your marginal utility for Teryaki Bowls at 4 quantities? A. 500 B. 400 C. 100 D. 50

Explanation / Answer

Marginal utulity is the utility gained from consuming one extra unit

1)60

2)20

3)500

4)100

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