When Erin has $25 to spend, she sees 2 movies at $10 a movie ticket and buys
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When Erin has $25 to spend, she sees 2 movies at $10 a movie ticket and buys 1 six-pack of soda. Calculate the price of soda. If her budget for soda and movies increases to $50, what is the change in the relative price of a movie ticket? How does her marginal utility per dollar from movies change?
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From her budget of 25 Erin is spending 20 2 movies at 10 each on m...View the full answer
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