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Author Question: Table 10-3Ice Cream ConesLime Fizz SodaQuantityMUMU13040225353202641518510156 5 7Refer to Table ... (Read 142 times)

fagboi

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on: Oct 7, 2019

Table 10-3

​Ice Cream ConesLime Fizz Soda
QuantityMUMU
13040
22535
32026
41518
51015
6  5  7

Refer to Table 10-3. The table above shows Lee's marginal utility per dollar from consuming ice cream cones and cans of Lime Fizz Soda. The price of an ice cream cone is $2 and the price of Lime Fizz Soda is $1. Use this information to select the correct statement.


◦

We cannot determine how many ice cream cones and cans of Lime Fizz Soda will maximize Lee's utility because we are given only the marginal utility per dollar values. We also need to know the marginal utility for each quantity.


◦

We cannot determine how many ice cream cones and cans of Lime Fizz Soda Lee will consume without knowing what his income is.


◦

To maximize his utility Lee should consume 1 ice cream cone and 5 cans of Lime Fizz Soda.


◦

If Lee has an unlimited budget he will maximize his utility by buying only Lime Fizz Soda.

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

lorealeza77

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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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fagboi

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Reply 2 on: Oct 7, 2019
Excellent

jomama

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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