Suppose Bill enters a hot dog eating contest. He enjoys hot dogs, so he gladly pays the $20 entry fee. Bill realizes there is very little chance that he will actually win the contest. He just likes the idea of being able to eat all the hot dogs he wants. The table below shows Bill's utility from eating hot dogs.

A. Use the table below and fill in the values for marginal utility

B. If Bill is rational, and has no intention of winning the hot dog eating contest, what is the optimal number of hot dogs he will eat? What is the maximum level of utility Bill can reach from eating that number of hot dogs?

Optimal number of hot dogs:

Maximum utility:

Instructions: Enter your answers as a whole number, If a. Use the table below and fill in the values for margina Hot Dogs and Biff's Utility Total Utility Marginal Utility Hot Dogs (utils) (utils) 6 40 7 43 8 47 9 52 10 55 11 53 b. If Biff is rational, and has no intention of winning the What is the maximum level of utility Biff can reach from Optimal number of hot dogs: Maximum utility