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Assume that Raymond has $ 37.00 to spend on pretzels and beer. The price of pretzels is $3.00 and the price of beer is $5.00. Marginal utilities for each good are given below. MU P MU p/P p MU B MU B/P B Units 1st 18 6. 40 8. 2nd 15 30 6. 3rd 12 4 25 4th 9. 3 20 4. 5th 15 3 6th If Raymond is maximizing his utility, then 3.

Assume that Raymond has $ 37.00 to spend on pretzels and beer. The price of pretzels is $3.00 and the price of beer is $5.00. Marginal utilities for each good are given below. MU P MU p/P p MU B MU B/P B Units 1st 18 6. 40 8. 2nd 15 30 6. 3rd 12 4 25 4th 9. 3 20 4. 5th 15 3 6th If Raymond is maximizing his utility, then 3.

Exploring Economics
Exploring Economics
8th Edition
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:Robert L. Sexton
Chapter10: Consumer Choice Theory
Section: Chapter Questions
Problem 2P
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Assume that Raymond has $ 37.00 to spend on pretzels and beer. The price of pretzels is $3.00 and the price of beer is $5.00. Marginal utilities for each good are given below. MU P MU p/P p MU B MU B/PB Units 1st 18 6. 40 2nd 15 30 6. 3rd 12 25 4th 20 5th 6. 2. 15 6th 1 1. If Raymond is maximizing his utility, then Type here to search 5 4 3. 3.
Transcribed Image Text:Assume that Raymond has $ 37.00 to spend on pretzels and beer. The price of pretzels is $3.00 and the price of beer is $5.00. Marginal utilities for each good are given below. MU P MU p/P p MU B MU B/PB Units 1st 18 6. 40 2nd 15 30 6. 3rd 12 25 4th 20 5th 6. 2. 15 6th 1 1. If Raymond is maximizing his utility, then Type here to search 5 4 3. 3.
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