Mathematics, 21.02.2020 20:40 austinmiller3030

Assume that strawberries cost $1 and apples cost $2. Which of the following combinations of strawberries and apples satisfies the optimal consumption rule? a. 2 strawberries and 4 apples. b. 6 strawberries and 5 apples. c. 5 strawberries and 5 apples. d. 3 strawberries and 2 apples. e. 6 strawberries and 7 apples.

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Answer from: byrdfarm

Option C. 5 strawberries and 5 apples

Step-by-step explanation:

The given question is incomplete ; complete question attached herewith.

Cost of strawberries and apples = $1 and $2

Marginal utility for strawberries

Strawberry consumed Total utility Marginal utility

0 0 0

1 7 (7 - 0) ÷ 1 = 7

2 13 (13 - 7) ÷ 1 = 6

3 18 (18 - 13) ÷ 1 = 5

4 22 ( 22 - 18) ÷ 1 = 4

5 25 (25 - 22) ÷ 1 = 3

6 27 (27 - 25) ÷ 1 = 2

7 28 (28 - 27) ÷ 1 = 1

For apples,

Apples consumed Total utility Marginal utility

0 0 0

1 14 (14 - 0) ÷ 1 = 14

2 26 (26 - 14) ÷ 1 = 12

3 36 (36 - 26) ÷ 1 = 10

4 44 (44 - 36) ÷ 1 = 12

5 50 (50 - 44) ÷ 1 = 6

6 54 (54 - 50) ÷ 1 = 4

7 56 (56 - 54) ÷ 1 = 2

Now from the formula,

$\frac{\text{Marginal utility of strawberry}}{\text{Price of strawberry}}=\frac{\text{Marginal utility of apples}}{\text{Price of apples}}$

From the table we find at strawberry consumed = 5 , and apples consumed = 5

The ratio of marginal utility and price are same.

$\frac{\text{Marginal utility of strawberry}}{\text{Price of strawberry}}=\frac{3}{1}=3$

$\frac{\text{Marginal utility of apples}}{\text{Price of apples}}=\frac{6}{2}=3$

Therefore, Option C. 5 strawberry and 5 apples will be the answer.

Assume that strawberries cost $1 and apples cost $2. Which of the following combinations of strawber

Answer from: Quest

29. because you will divide each number of months by 12 to find the number of years. which would mean, 5, 12.5, 16, 45, 50, 72.5. which is crazy. anyhow, i think you find the median in the middle. and yea hope your test goes good

Answer from: Quest

6/20

step-by-step explanation:

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