*2.4 Ahmed purchases only two goods, mangoes (M) and coconuts (C). He has an income of $100...
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*2.4 Ahmed purchases only two goods, mangoes (M) and coconuts (C). He has an income of $100 and can buy one mango for $10 and one coconut for $5. His utility function is U(M, C) = 5M + 2C; that is, his constant marginal utility is 5 for mangoes and 2 for coconuts.
What bundle of mangoes and coconuts should Ahmed purchase to maximize his utility? Why?
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Related Book For 
Managerial Economics And Strategy
ISBN: 9780135640944
2nd Global Edition
Authors: Jeffrey M. Perloff, James A. Brander
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