the table above shows least marginal utility for consuming ice cream comes in ca

Question

the table above shows least marginal utility for consuming ice cream comes in cans of lime fuzz. select the phrase that complete the following statement. we can determine the number of ice cream cones and lime Buzz soda Lee should consume to maximize his utility.

a. if we know the value of the marginal utility per dollar of ice cream cones and soda

b. if we know what lee's income is in the price of ice cream cones and the price of lime soda

c. by adding up the marginal utility for ice cream cones and lime soda

d. if we know lee's income

Explanation / Answer

Ans: if we know what lee's income is in the price of ice cream cones and the price of lime soda

Explanation:

Total utility is maximum when MU1/P1 = MU2/P2 and the income is exhausted.

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