Q 1.Total utility is highest at the cupcake. 2.When comparing two goods for purchase, it is useful to acknowledge the marginal utility and the dollar price. The optimizing decision requires choosing the good with the 3.Refer to the following table to answer the following questions: Sodas Total Utility Consumed (Utils per Soda) 0 0 1 35 2 60 3 80 4 90 5 90 6 75 7 50 8 20 The marginal utility of the eighth unit is 4.Peter is deciding between consuming Good X and Good Y. At his current level of consumption, his marginal utility per dollar for Good X is less than the marginal utility per dollar for Good Y. To achieve the consumer optimum, Peter needs to 5.One explanation for the existence of the diamond–water paradox is that