Suppose you have the following information on John’s preferences. Hamburgers, Pizza, and UtilityHamburgers Marginal Utility of Hamburgers Marginal Utility of Hamburgers per Dollar PH=$5PH=$5Slices of Pizza Marginal Utility of Slices of Pizza Marginal Utility of a Slice of Pizza per Dollar PP=$2PP=$21 20 4 1 14 7 Assuming John has the income to purchase either good, which statement is true?Multiple choice question.John should first purchase a slice of pizza because the marginal utility per dollar is higher than hamburgers.Not enough information to determine which good should be purchased.John should first purchase a hamburger because the marginal utility is greater than a slice of pizza.John should first purchase a slice of pizza because the price is lower than hamburgers.

When deciding between purchasing two goods, an individual should purchase the good with the highest:Multiple choice question.utils.marginal utility.marginal utility per dollar.total utility.

Below is the utility preferences for an individual: Movies Marginal Utility of Movies Marginal Utility of Movies per Dollar (PM=$10)PM=$10Books Marginal Utility of Books Marginal Utility of Books per Dollar (PB=$5)PB=$51 100 10 1 45 92 70 7 2 40 83 40 4 3 30 64 10 1 4 15 3 What is the utility-maximizing consumption bundle if the individual has $25 to spend?Multiple choice question.1 movie and 3 books5 books2 movies and 3 books2 movies and 1 book

Use the following table to answer the question below.  Number of Units Total Utility1 1002 1903 2704 3405 4006 450 The addition of which unit has the greatest marginal utility?Multiple Choicefifthsecondfirstsixth

The marginal utility associated with eating one sub sandwich is 5 utils. The marginal utility of a second sandwich is 3 utils. In this case total utility _______ with the consumption of the second sandwich.Multiple choice question.increasesdecreasesbecomes zeroremains the same

Use the following information to answer the question below. Cloe is given $4 of pocket money to be spent on either hard candies or chocolates. Chocolates cost 40 cents each and hard candies cost 80 cents each. The marginal utilities derived from the consumption of each product are as shown in the following table. Number of ItemsMarginal Utility of ChocolatesMarginal Utility of Hard Candies160150250140340120430100520 80610 707  5 508  0 20 Which combination would maximize Cloe’s total utility given her $4 budget?Multiple Choice6 chocolates and 2 hard candies4 chocolates and 3 hard candies2 chocolates and 4 hard candies0 chocolates and 5 hard candies