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Author Question: Chase has a budget of $14 which he must allocate between steak and cranberry juice. The table gives ... (Read 123 times)

cagreen833

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on: May 24, 2019



Chase has a budget of $14 which he must allocate between steak and cranberry juice. The table gives his marginal utility and the marginal utility per dollar for both of those goods. The price of steak is $10 per serving and the price of cranberry juice is $2 per serving. To maximize his utility, Chase should buy
◦ 2 servings of steak and 2 servings of cranberry juice.
◦ 2 servings of steak and 4 servings of cranberry juice.
◦ 1 serving of steak because this has the highest marginal utility.
◦ 1 serving of steak and 2 servings of cranberry juice.
◦ 4 servings of steak and 4 servings of cranberry juice.
Foundations of Microeconomics ¦ Bade, Parkin ¦ 8th Edition
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Marked as best answer by cagreen833 on May 24, 2019

ambernicolefink

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Reply #1 on: May 24, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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cagreen833

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Reply #2 on: May 24, 2019
Thank you!


ambernicolefink

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Reply #3 on: May 24, 2019
Always glad to help...


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