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5) In spending all his income on beer and pizza, Henry finds that the marginal utility of the last pizza he consumed is 8, and
5) In spending all his income on beer and pizza, Henry finds that the marginal utility of the last pizza he consumed is 8, and the marginal utility of the last bottle of beer is 4. The price of a bottle of beer is $1.50. If Henry has maximized his utility, the price of pizza must be: (Mcconnell, Brue, and Flynn, 2015) a) $0.75 b) $1.00 c) $3.00 d) $4.50
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