Carl has $8 to spend on some combination of apples, bananas, and coconuts. Apples and bananas cost $1 each, while coconuts cost $2 each. The table below shows the total utility obtained per good, given the quantity purchased. To maximize the sum of his utilities from apples, bananas, and coconuts, how many of each fruit should car purchase? _____ Apples? _____ Bananas? _____ Coconuts? In doing so, he obtains a total utility of ____ from consuming all of his fruit.
Carl has $8 to spend on some combination of apples, bananas, and coconuts. Apples and bananas cost $1 each, while coconuts cost $2 each. The table below shows the total utility obtained per good, given the quantity purchased. To maximize the sum of his utilities from apples, bananas, and coconuts, how many of each fruit should car purchase? _____ Apples? _____ Bananas? _____ Coconuts? In doing so, he obtains a total utility of ____ from consuming all of his fruit.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
Carl has $8 to spend on some combination of apples, bananas, and coconuts. Apples and bananas cost $1 each, while coconuts cost $2 each. The table below shows the total utility obtained per good, given the quantity purchased. To maximize the sum of his utilities from apples, bananas, and coconuts, how many of each fruit should car purchase?
_____ Apples?
_____ Bananas?
_____ Coconuts?
In doing so, he obtains a total utility of ____ from consuming all of his fruit.
Transcribed Image Text:qty.
1
2
3
4
5
6
7
8
utility from...
apples bananas coconuts
11
12
22
19
22
42
26
31
58
32
39
72
37
45
84
41
49
94
44
51
102
46
52
108
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