Refer to the following table to answer the next six question…

Refer to the following table to answer the next six questions. — — Chips Consumed Marginal Utility Soda Consumed Marginal Utility 0 0 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 Assume that chips cost $1 and soda costs $2. Which of the following combinations of chips and soda satisfies the rule ?

Refer to the following table to answer the next six question…

Refer to the following table to answer the next six questions. — — Chips Consumed Marginal Utility Soda Consumed Marginal Utility 0 0 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 Which of the following combinations of chips and soda represent the consumer optimum for a consumer who has $7 to spend and the price of chips is $1 each and price of soda is $2 each?

INSTRUCTIONS 1. Read all the instructions carefully be…

INSTRUCTIONS 1. Read all the instructions carefully before you answer. Answer in full sentences where required. 2. Good use of language and correct spelling is advised. 3. Answer all the questions. 4. Before submitting, check all your answers.