ECONOMICS
CONSUMERS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Butch is currently spending his entire lunch budget on 3 sodas and 4 hot dogs. At his current level of consumption, his marginal utility for sodas is 5 utils and his marginal utility for hot dogs is 10 utils. In order to maximize his total utility, Butch should:
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Consume more sodas & fewer hot dogs regardless of prices
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Consume more hot dogs & fewer sodas regardless of prices
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Maintain current consumption if sodas are $1 each and hot dogs are $2 each
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Maintain current consumption if sodas are $2 each and hot dogs are $1 each
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Explanation:
There is 1 question to complete.