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Each week, Kang consumes beer and pizza, and spends his maximum allocated income on these goods. The price of beer is $8 per bottle, and
Each week, Kang consumes beer and pizza, and spends his maximum allocated income on these goods. The price of beer is $8 per bottle, and the price of a serving of pizza is $5. Based on this week's consumption, Kang's marginal utility of beer is 32, and his marginal utility of pizza is 15. Given this information, did Kang maximize his utility subject to his budget? Group of answer choices Yes, Kang maximized his utility. No. Kang should have spent more money on beer and less money on pizza. No. Kang should have spent less money on both beer and pizza. No. Kang should have spent more money on pizza and less money on beer
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