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Author Question: Mapping Utility with Indifference CurvesAssume a household receives a weekly income of $95. The ... (Read 80 times)

erikka246

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on: Nov 23, 2022
Mapping Utility with Indifference Curves

Assume a household receives a weekly income of $95. The graph shows the choices of that household as the price of sunblock changes.

If Q1=1, Q2=9, Q3=15, Q4=19, Q5=25, and Q6=30, fill in the prices on the household demand schedule. Please round your final answer to two decimal places.

Price of SunblockQuantity of Sunblock
P11​
P29​
P319​

◦ P1 = $95.00, P2 = $10.56, P3 = $5.00
◦ P1 = $6.33, P2 = $3.80, P3 = $3.17
◦ P1 = $3.17, P2 = $3.80, P3 = $6.33
◦ P1 = $5.00, P2 = $10.56, P3 = $95.00
Macroeconomics ¦ Acemoglu, Laibson, List ¦ 3rd Edition
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Marked as best answer by erikka246 on Nov 23, 2022

KeriJennin

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Reply #1 on: Nov 23, 2022
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erikka246

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Reply 2 on: Nov 23, 2022
Great answer, keep it coming :)

vickybb89

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Reply 3 on: Yesterday
Excellent

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