In Table 7.1, suppose the marginal utility numbers for books change: for each quantity of books, the

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In Table 7.1, suppose the marginal utility numbers for books change: for each quantity of books, the marginal utility is 6 utils higher. For example, for 24 books, the marginal utility is 8 utils instead of 2 utils, and for 21 books, the marginal utility is 10 utils instead of 4 utils. Determine the new utility-maximizing bundle.

TABLE 7.1 Utility Maximization Marginal Movies Books Utility: Movies - 2356 00 4 8 24 21 18 15 12 9 6 3 51 48

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Microeconomics Principles Applications And Tools

ISBN: 9780134078878

9th Edition

Authors: Arthur O'Sullivan, Steven Sheffrin, Stephen Perez

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