Question
Mike loves to eat burgers and chips at Burger King. His utility (happiness) from these two fast foods is listed as follows: Burgers: 1/5 2/9
Mike loves to eat burgers and chips at Burger King. His utility (happiness) from these two fast foods is listed as follows: Burgers: 1/5 2/9 3/13 4/15 5/17 6/18; Chips: 1/8 2/11 3/12 4/13 5/14 6/14.5; where the first value reports the number of bugers or chips consumed, and the second number reports the total amount of happiness that number provides. For example, 4/15 means that if 4 burgers are consumed, Mike will enjoy 15 units of happiness. If the price of each order of chips rises to $10 while the price of each burger remains at $5. If Mike has $30, then how many burgers should he buy (the first number listed) and how many chips should he order (the second number listed) in order to maximize his happiness?
6 burgers, 0 chips | ||
2 burgers, 2 chips | ||
4 burgers, 1 chips | ||
0 burgers, 3 chips | ||
None of the Above |
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