The following table gives the price and total utility of three goods: A, B, and C. As
Question:
The following table gives the price and total utility of three goods: A, B, and C.
As closely as possible, determine how much of the three goods you would buy with $20. Explain why you chose what you did.
Transcribed Image Text:
Total Utility Good Price 1 2 3 4 5 6 7 8 ABC $10 200 380 530 630 680 700 630 430 2 20 34 46 56 64 72 78 82 6 50 60 70 80 90 100 90 80
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To determine how much of each good you would buy with 20 we need to compare the marginal utility per ...View the full answer
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