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Barbara will purchase 2 processed toppings first, followed by 3 fresh fruit toppings.d.
If money is no object, Barbara will purchase an additional unit of each topping as longas the topping provides a positive marginal utility. In this case, 2 processed toppingsand 5 fresh fruit toppings.e.The preferences used in this problem violate the assumption that consumers alwaysprefer more of a good to less.
NEW25. (Table: Consumer Equilibrium) Assume that the price of both Goods X and Y is $1 per unit, and you have $7 of income to spend on both goods. To maximize utility, you would consume ________ units of X and ________ units of Y.11. (Table: Consumer Equilibrium) Assume that the price of Good X is $2 per unit, the price of Good Y is $1 per unit, and you have $10 of income to spend on both goods. To maximize utility, you would consume ________ units of X and ________ units of Y.26.An individual gets five units of utility from one slice of pizza and nine units of utility from two slices of pizza. The principle of diminishing marginal utility implies that the total utility from three slices of pizza will be:
30. An indifference curve shows combinations of two goods that yield:A) equal satisfaction.B) increasing prices.C) equal money income.D) equal prices.Answer : A38.(Table: Utility from Burgers and Milkshakes) David's marginal utilities for milkshakes and burgers are given in the table. The price of milkshakes is $2, and the price of burgers is $5. If David's income is $22, how many milkshakes and how many burgers does he buy to maximize his utility?
50. (Scenario: Good X and Good Y) Suppose that Phillip discovers that if he spends all of his money on Good Y he can now buy more of Good Y than he could previously. This is a result of a(n):