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3. Balancing utility and price Suppose Cho has to choose between purchasing plane tickets and juice. Which of the following is the utility-maximizing rule that
3. Balancing utility and price Suppose Cho has to choose between purchasing plane tickets and juice. Which of the following is the utility-maximizing rule that Cho should follow while choosing the optimal quantities of these two goods? (Note: In the answer options that follow, MU stands for "marginal utility.") A MU of Juice _ MU afPlarLe Tickets ' Price of Juice _ Price of Plane Tickets KW MU of Juice _ MU of Plane Tickets Price of Plane Tickets _ Price of Juice -C\"; (MU 0f Juice) X (Price of Juice) = (MU of Plane Tickets) X (Price of Plane Tickets) C\" MU of Juice = MU of Plane Tickets Since juice costs little and plane tickets are expensive, it must follow that when people choose their optimal quantities of juice and plane tickets to purchase, the marginal utility they receive from the last gallon ofjuice they buy is 7 than the marginal utility they receive from the last plane ticket they buy
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