Optimal choice of milk and honeyquantity of milk total utility quantity of honey total utility(gallons) from milk (in jars) from honey0 0 0 01 32 1 442 60 2 843 84 3 1204 104 4 1525 120 5 1806 132 6 2047 140 8 2248 144 8 240the price of milk is $2 per gallon, and the price of honey is $4 per jar. hal's income is $16. assuming that hal spends all of his income on honey and milk, the combination of milk and honey that will maximize his total utility is jars of honey and gallons of milk.

Exercise 2-12 cost behavior; high-low method [lo2-3, lo2-4] speedy parcel service operates a fleet of delivery trucks in a large metropolitan area. a careful study by the company’s cost analyst has determined that if a truck is driven 120,000 miles during a year, the average operating cost is 11.6 cents per mile. if a truck is driven only 80,000 miles during a year, the average operating cost increases to 13.6 cents per mile. required: 1.& 2. using the high-low method, estimate the variable and fixed cost elements of the annual cost of truck operation. (round the "variable cost per mile" to 3 decimal places.)