The table below compares the marginal benefit Lucinda gets from Kewpie dolls and Beahle Babies. Lucinda's Marginal Benefit of Kewpie Dolls and Beanie Babies Kewpie Dolls Beanie Babies Kewpie Dolls 1 2 3 4 5 6 Marginal Benefit (dollars) $15 14 13 12 11 10 Beanie Babies 1 2 Beanie Babies 3 4 5 6 Marginal Benefit (dollars) $18 16 14 12 10 8 Instructions: Enter your answers as a whole number. a. If the price of Kewpie dolls and the price of Beanie Babies are both $12, how many of each will Lucinda buy if she is rational? Kewpie dolls b. If Lucinda has only $60 to spend and the price of Kewpie dolls and the price of Beanie Babies are both $12, how many of each will Lucinda buy if she is rational?

The table below compares the marginal benefit Lucinda gets from Kewpie dolls and Beahle Babies. Lucinda's Marginal Benefit of Kewpie Dolls and Beanie Babies Kewpie Dolls Beanie Babies Kewpie Dolls 1 2 3 4 5 6 Marginal Benefit (dollars) $15 14 13 12 11 10 Beanie Babies 1 2 Beanie Babies 3 4 5 6 Marginal Benefit (dollars) $18 16 14 12 10 8 Instructions: Enter your answers as a whole number. a. If the price of Kewpie dolls and the price of Beanie Babies are both $12, how many of each will Lucinda buy if she is rational? Kewpie dolls b. If Lucinda has only $60 to spend and the price of Kewpie dolls and the price of Beanie Babies are both $12, how many of each will Lucinda buy if she is rational?

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter16: Information, Risk, And Insurance

Section: Chapter Questions

Problem 20CTQ: A website offers a place for people to buy and sell emeralds, but information about emeralds can be...

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