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Category > Business & Finance Posted 07 Jun 2017 My Price 8.00

Mike loves to eat burgers and chips at Burger King

Mike loves to eat burgers and chips at Burger King. His utility (happiness) from these two fast foods is listed as follows:

Burgers: 1/5 2/9 3/13 4/15 5/17 6/18;

Chips: 1/8 2/11 3/12 4/13 5/14 6/14.5;

where the first value reports the number of bugers or chips consumed, and the second number reports the total amount of happiness that number provides. For example, 4/15 means that if 4 burgers are consumed, Mike will enjoy 15 units of happiness.

If the price of each order of chips rises to $10 while the price of each burger remains at $5. If Mike has $30, then how many burgers should he buy (the first number listed) and how many chips should he order (the second number listed) in order to maximize his happiness?

    6 burgers, 0 chips
    2 burgers, 2 chips
    4 burgers, 1 chips
    0 burgers, 3 chips
    None of the Above

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Status NEW Posted 07 Jun 2017 06:06 AM My Price 8.00

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