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Author Question: Table 10-4Steak & CheeseSteak & CheeseGrilled ChickenGrilled ChickenQuantity ... (Read 67 times)

iveyjurea

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on: Oct 7, 2019

Table 10-4

​Steak & CheeseSteak & CheeseGrilled ChickenGrilled Chicken
Quantity MUMU/PMUMU/P
140103015
232  82412
320  516  8
412  312  6
5  6    1.5  8  4
6  2    0.5  4  2



Refer to Table 10-4. For steak and cheese sandwiches and grilled chicken sandwiches, the table contains the values of the marginal utility (MU) and marginal utility per dollar (MU/P) for Mabel Jarvis. Mabel has $14 to spend on steak and cheese sandwiches and grilled chicken sandwiches. Which of the following statements is true?


◦

To maximize her utility, Mabel will need a total of $36, the income needed to buy 6 steak and cheese sandwiches and 6 grilled chicken sandwiches.


◦

If Mabel maximizes her utility she will buy three steak and cheese sandwiches and two grilled chicken sandwiches.


◦

Mabel will first buy two steak and cheese sandwiches; then with her remaining $6 she will buy three grilled chicken sandwiches.


◦

If Mabel was maximizing her utility when spending $14 and then received an additional $4, she would receive the most marginal utility per dollar if her next purchase was another grilled chicken sandwich.

InMicro ¦ Hubbard, O'Brien ¦ 1st Edition
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Marked as best answer by iveyjurea on Oct 7, 2019

stano32

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Reply #1 on: Oct 7, 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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iveyjurea

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Reply 2 on: Oct 7, 2019
Excellent

ghepp

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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