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Determine the number of cans of soda pop and pretzels

Assignment Help Microeconomics
Reference no: EM13906908

A. Fill in the missing total utility, marginal utility, and marginal utility/price (MU/Price). Place the final answer for each in the correct shaded area within the table.

Bottles of Soda Pop

Number of Pretzels

Bottles of Soda Pop Consumed

Total Utility

Marginal Utility

MU/Price

Number of Pretzels Consumed

Total Utility

Marginal Utility

MU/Price

0

0

 

 

0

0

 

 

1

20

 

 

2

50

 

 

2

 

18

 

4

 

20

 

3

 

14

 

6

120

15

 

4

60

8

 

8

140

 

 

5

64

 

 

10

150

5

 

6

62

 

 

12

 

0

 

B. George has $28.00 to spend on soda pop and pretzels. Determine the number of cans of soda pop and pretzels that will be optimal for George. Explain your reasoning regarding how you chose that consumption point.

Submission Requirements:

 

Support your final answer for optimal consumption. Submitting only a final answer will not earn credit.

- Attach a Word document; all answers should be included in this document.

- Times New Roman, 12-point font.

Reference no: EM13906908

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