The following table gives your marginal utilities for three desserts: pie, ice cream, and custard. Each dessert
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The following table gives your marginal utilities for three desserts: pie, ice cream, and custard.
Each dessert is priced at $1.
Suppose you had $10 to spend on desserts.
How much of each dessert would you buy? Now suppose there’s a custard special that reduces its price to $0.50. What would be your new quantity demanded of custard?
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