Question

C. If Biff is rational, and has no intention of winning the hot dog eating contest, what is the optimal number of hot dogs he will eat? What is the maximum level of utility Biff can reach from eating that number of hot dogs?

Answer 1

Answer:

Optimal number of hot dogs:  Eight

Maximum utility: Fifty five

Correct statement and question:

Biff's Hot Dog Utility  

Hot Dogs          Total Utility (utils)     Marginal Utility (utils)

 5                            48                               —

 6                            52                              4

 7                            54                              2

 8                            55                              1

 9                            54                            - 1

10                             51                             - 3

If Biff is rational (and has no intention of winning the hot dog eating contest), what is the optimal number of hot dogs he will eat and what will his maximum level of utility be?

Source

Question that can be found at coursehero, but can't provide the exact link because it would be rejected by brainly if I write it down.

Step-by-step explanation:

What is the optimal number of hot dogs he will eat and what will his maximum level of utility be?

According to the information provided in the table above, the optimal number of hot dogs Biff will eat is 8. The maximum utility he can reach eating 8 hot dogs is 55. After 8, the total utility start to decrease because the marginal utility starts to be negative.