Question: 1. Suppose a focus group leader working for Coca Cola asks a consumer to rank her utility from consuming various bundles of coke and cheeseburgers,
1. Suppose a focus group leader working for Coca Cola asks a consumer to rank her utility from consuming various "bundles" of coke and cheeseburgers, on a scale from 1 to 100. Which of the following statements will be more useful to the sellers of coke? Explain in terms of cardinal vs. ordinal utility. a) Starting at (12 ounces of coke, 8-ounce cheeseburger), an additional ounce of coke increases her ranking from 50 to 55. b) The ranking of (12 ounces of coke, 8-ounce cheeseburger) is the same as the ranking of (10 ounces of coke, 12-ounce cheeseburger)
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