Next question In a year, Marco buys 10 sweaters at $60 each and pays $40 for 10,000 gallons of tap water. Marco is maximizing total utility. If Marco's marginal utility from water is 0.4 unit per gallon, what is his marginal utility from a sweater? If Marco's marginal utility from water is 0.4 unit per gallon, his marginal utility from a sweater is units.

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ISBN:9781337613064
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Chapter6: Consumer Choice Theory
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In a year, Marco buys 10 sweaters at $60 each and pays $40 for 10,000 gallons of tap water.
Marco is maximizing total utility.
If Marco's marginal utility from water is 0.4 unit per gallon, what is his marginal utility from a sweater?
If Marco's marginal utility from water is 0.4 unit per gallon, his marginal utility from a sweater is units.
Transcribed Image Text:Next question In a year, Marco buys 10 sweaters at $60 each and pays $40 for 10,000 gallons of tap water. Marco is maximizing total utility. If Marco's marginal utility from water is 0.4 unit per gallon, what is his marginal utility from a sweater? If Marco's marginal utility from water is 0.4 unit per gallon, his marginal utility from a sweater is units.
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