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In: Economics

Question 15 Rudolph has a budget of $22 to spend on rice ( R) and chicken...

Question 15

Rudolph has a budget of $22 to spend on rice ( R) and chicken nuggets ( N). The price of rice is $4.04 per pound, and the price of chicken nuggets is $3.28 per unit. The table below shows the marginal utilities that the consumer gets from the different quantities of both.

Q

MUR

MUN

1

20

19

2

18

16

3

16

13

4

14

10

5

12

7

6

10

4

7

8

1

8

6

0

9

4

0

10

2

0


What is the optimal bundle of rice and chicken nuggets ( QR, QN) for Rudolph? ( QR, QN) =

A.

(3, 3)
B.

(4, 4)
C.

(2, 4)
D.

(4, 3)
E.

(4, 2)

Solutions

Expert Solution

Rahul Sunny answered 1 year ago
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