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Katie loves to eat cookies (Oreos) and ice cream (any flavor from Ben and Jerrys). Katie's utility from these two products can be expressed as
Katie loves to eat cookies (Oreos) and ice cream (any flavor from Ben and Jerrys). Katie's utility from these two products can be expressed as follows: 1st Number = Number of Cookies; 2nd Number = Total Utility from Cookies 1:10 2:18 3:25.5 4:31 5:36 6:40 1st Number = Number of Scoops; 2nd Number = Total Utility from Ice Cream 1:16 2:22 3:24 4:25 5:25.5 6:25.7 Suppose each cookie costs $1 and that each scoop of ice cream cost $1. In this case, what will Katie buy if she has a total of $3 to spend? 1 scoop of ice cream, 2 cookies 2 scoops of ice cream, 2 cookies 2 scoops of ice cream, 1 cookie 3
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