Scenario: The following table shows the marginal benefit that a consumer derives by consuming different quantities of juice and milk.

-Refer to the table above.If the income of the consumer is $24,the optimal choice of the consumer will include ________.
A) 1 quart of juice and 1 quart of milk
B) 3 quarts of juice and 4 quarts of milk
C) 4 quarts of juice and 4 quarts of milk
D) 4 quarts of juice and 5 quarts of milk

Question

Scenario: The following table shows the marginal benefit that a consumer derives by consuming different quantities of juice and milk.
 
-Refer to the table above.If the income of the consumer is $24,the optimal choice of the consumer will include ________.
A) 1 quart of juice and 1 quart of milk 
B) 3 quarts of juice and 4 quarts of milk 
C) 4 quarts of juice and 4 quarts of milk 
D) 4 quarts of juice and 5 quarts of milk

Quizplus · Accepted Answer

The optimal choice is the one that maximizes utility within the budget constraint. Assuming the prices allow for exactly $24 to be spent, option C likely fits this condition.

Scenario: the Following Table Shows the Marginal Benefit That a Consumer