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Question
Refer to the following table to answer the following questions:
| Chips Consumed | Marginal Utility | Soda Consumed | Marginal Utility |
| 0 | u2014 | 0 | u2014 |
| 1 | 18 | 1 | 12 |
| 2 | 15 | 2 | 10 |
| 3 | 12 | 3 | 8 |
| 4 | 9 | 4 | 6 |
| 5 | 6 | 5 | 4 |
| 6 | 3 | 6 | 2 |
| 7 | 0 | 7 | 0 |
For 2 chips and 5 sodas to be a combination of goods that maximizes someones utility per dollar, the price of chips must be ________ if the price of soda is $1.00.
a. $2.00
b. $3.00
c. $2.50
d. $3.50
e. $3.75
Answer
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