16. I have $20 to spend on pizza and view a slice of pizza and a...

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16. I have $20 to spend on pizza and view a slice of pizza and a whole pizza as perfect substitutes. In particular, I am indifferent between 8 slices of pizza and 1 whole pizza. As such, my utility function can be represented as U(S,P)= S+8P, where S is a slice of pizza and P is a whole pizza. A slice of pizza costs $2. A whole pizza costs $14. What is my optimal bundle of slices of pizza and whole pizzas? 10 A. S=0,P 7 B. S=10, P=0 = 8 C. S=2, P=- 7 D. No optimal bundle exists 16. I have $20 to spend on pizza and view a slice of pizza and a whole pizza as perfect substitutes. In particular, I am indifferent between 8 slices of pizza and 1 whole pizza. As such, my utility function can be represented as U(S,P)= S+8P, where S is a slice of pizza and P is a whole pizza. A slice of pizza costs $2. A whole pizza costs $14. What is my optimal bundle of slices of pizza and whole pizzas? 10 A. S=0,P 7 B. S=10, P=0 = 8 C. S=2, P=- 7 D. No optimal bundle exists

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A slice costs 2 and a whole pizza costs 14 The budget is 20 The u... View the full answer