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asjstr asjstr
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5 years ago
Table 10-4

Steak & CheeseSteak & CheeseGrilled ChickenGrilled Chicken
Quantity MUMU/PMUMU/P
140103015
232  82412
320  516  8
412  312  6
5  6    1.5  8  4
6  2    0.5  4  2


Refer to Table 10-4.
For steak and cheese sandwiches and grilled chicken sandwiches, the table contains the values of the marginal utility (MU) and marginal utility per dollar (MU/P) for Mabel Jarvis. Mabel has $14 to spend on steak and cheese sandwiches and grilled chicken sandwiches. Which of the following statements is false?

• The price of steak and cheese sandwiches is $4. The price of grilled chicken sandwiches is $2.

• If Mabel maximizes her utility, she will buy three grilled chicken sandwiches.

• If Mabel maximizes her utility, she will buy two steak and cheese sandwiches.

• We do not have enough information to determine how many sandwiches Mabel will buy to maximize her utility.
Textbook 
Microeconomics

Microeconomics


Edition: 7th
Authors:
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katiewillkatiewill
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5 years ago
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5 years ago
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