Task: The following table displays George’s consumption of soda pop and pretzels. The price of each soda pop is $2.00 and the price of each pretzel is $5.00.
Question 1: Fill in the missing total utility, marginal utility, and marginal utility/price (MU/Price). Place the final answer for each in the correct shaded area within the table below.
|
Bottles of Soda Pop
|
Number of Pretzels
|
|
Bottles of Soda Pop Consumed
|
Total Utility
|
Marginal Utility
|
MU/Price
|
Number of Pretzels Consumed
|
Total Utility
|
Marginal Utility
|
MU/Price
|
|
0
|
0
|
|
|
0
|
0
|
|
|
|
1
|
20
|
|
|
2
|
50
|
|
|
|
2
|
|
18
|
|
4
|
|
20
|
|
|
3
|
|
14
|
|
6
|
120
|
15
|
|
|
4
|
60
|
8
|
|
8
|
140
|
|
|
|
5
|
64
|
|
|
10
|
150
|
5
|
|
|
6
|
62
|
|
|
12
|
|
0
|
|
Question 2: George has $28.00 to spend on soda pop and pretzels. Determine the number of cans of soda pop and pretzels that will be optimal for George. Explain your reasoning regarding how you chose that consumption point. Submitting only a final answer will not earn credit.
Submission Requirements:
Support your final answer for optimal consumption. Submitting only a final answer will not earn credit.
• Attach a Word document; all answers should be included in this document.
• Times New Roman, 12-point font.