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Phil has $20 to spend on cookies. A box of sugar cookies costs $2 and gives Phil 15 utils of utility. A box of snickerdoodles
Phil has $20 to spend on cookies. A box of sugar cookies costs $2 and gives Phil 15 utils of utility. A box of snickerdoodles costs $4 and gives Phil 22 utils of utility. A box of white chocolate macadamia nut cookies costs $5 and gives Phil 30 utils of utility. Assume that Phil spends all $20 on cookies, and he will only buy one type of cookie (but he can buy multiple boxes of the same type of cookie). If Phil buys sugarcookies, what is the opportunity cost of that purchase? 150 utils 230 utils 120 utils 110 utils
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