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Author Question: Keith is indifferent between canned soup and fresh soup. In the figure above, Keith's indifference ... (Read 207 times)

saraeharris

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on: Jun 18, 2019



Keith is indifferent between canned soup and fresh soup. In the figure above, Keith's indifference curves are represented by I1, I2, I3, and I4 curves. What is Keith's utility maximization choice?
◦ only 2 fresh soups
◦ only 4 canned soups
◦ 4 canned soups and 2 fresh soups
◦ 4 canned soups and 4 fresh soups
Microeconomics ¦ Perloff ¦ 8th Edition
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cloudre37

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Reply #1 on: Jun 18, 2019
only 4 canned soups


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rosent76

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Reply #2 on: Jun 18, 2019



Keith is indifferent between canned soup and fresh soup. In the figure above, Keith's indifference curves are represented by I1, I2, I3, and I4 curves. Canned soup sells for $1 per serving and fresh soup sells for $2 per serving. What is Keith's income?
◦ $5
◦ $8
◦ $2
◦ $4


TheDev123

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Reply #3 on: Jun 18, 2019
$4


rosent76

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Reply #4 on: Jun 18, 2019
Excellent


TheDev123

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Reply #5 on: Jun 18, 2019
Great! Please up vote :D


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