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Cawlin needs to decide how many cups of coffee and pieces of cake he will buy for a meeting with an office mate. He estimates
Cawlin needs to decide how many cups of coffee and pieces of cake he will buy for a meeting with an office mate. He estimates his total utility for different quantities of coffee and cakes below. A cup of coffee is $1.00, and each piece of cake is $0.50. Cawlin has a total of $3 to spend. What is Cawlin's total utility if he buys 2 cups of coffee and 2 pieces of cake? Utility from Consumption Cups of Coffee Total Utility from Cups of Coffee Pieces of Cake Total Utility from Pieces of Cake 1 29 1 19 2 55 2 36 3 78 3 52 4 4 67 5 5 81 6 6 94 Total Utility of Different Consumption Bundles Consumption Bundle Cups of Coffee Pieces of Cake Total Utility A 3 0 B 2 2 C 1 4 D 0 6
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