Author Question: The table below shows the quantities of toffee bars and bags of cashews that a consumer could ... (Read 56 times)

C0DxHalo · **on:** Oct 12, 2022

The table below shows the quantities of toffee bars and bags of cashews that a consumer could consume over a 1-week period.

Toffee (bars)

Cashews (bags)

Units	Marginal Utility	Total Utility	Marginal Utility	Total Utility
1	10	10	12	12
2	8	18	10	22
3	5	23	7	29
4	3	26	5	34
5	1	27	2	36
6	0	27	1	37
7	0	27	0	37

TABLE 6-4

Refer to Table 6-4. If the prices of toffee bars and bags of cashews are both $1 and this consumer has $7 per week to spend on these two snacks, how many of each will he/she purchase to maximize utility?
◦ 2 toffee bars and 5 bags of cashews
◦ 5 toffee bars and 2 bags of cashews
◦ 6 toffee bars and 1 bag of cashews
◦ 4 toffee bars and 3 bags of cashews
◦ 3 toffee bars and 4 bags of cashews

Snabbey · **Reply #1 on:** Oct 12, 2022

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