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Answer :
Final answer:
Jack's optimal consumption of 2 oz. and 8 oz. chocolate bars is to consume ten 2 oz. chocolate bars and zero 8 oz. chocolate bars.
Explanation:
To find Jack's optimal consumption of 2 oz. and 8 oz. chocolate bars, we need to determine the combination that maximizes his utility given his income and the prices of the chocolate bars.
Using the given prices, we can calculate that one 8 oz. bar is equivalent to four 2 oz. bars. Since Jack's income is $15, he can afford to buy up to ten 2 oz. bars or two 8 oz. bars.
Therefore, the optimal consumption for Jack is to consume ten 2 oz. chocolate bars and zero 8 oz. chocolate bars (choice C).
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