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The table shows Pedro's utility from consuming tea and wine.Number of Cups of TeaTotal Utility from ...

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The table shows Pedro's utility from consuming tea and wine.Number of Cups of TeaTotal Utility from ...

The table shows Pedro's utility from consuming tea and wine.

Number of Cups of Tea	Total Utility from Tea	Number of Bottles of Wine	Total Utility from Wine
0	0	0	0
1	18	1	9
2	29	2	18
3	37	3	27
4	40	4	36
5	38	5	45
6	32	6	54

Suppose the price of a cup of tea is $2.50 and the price of a bottle of wine is $5, what is the marginal utility per dollar for the fourth cup of tea? For the second bottle of wine?

▸ 1.20, 1.80

▸ 16.00, 1.80

▸ 1.20, 7.20

▸ 16.00, 7.20

Textbook

Macroeconomics

Edition: 3^rd

Authors: Acemoglu, Laibson, List

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