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:3] Explain why accounting profit is usually greater than economic profit. [5 points] Michaela consumes a bundle of candy and cookies, spending all of her
:3] Explain why accounting profit is usually greater than economic profit. [5 points] Michaela consumes a bundle of candy and cookies, spending all of her income. The price of candy is $1 and the price of a cookie is $0.50. At her current bundle, the marginal utility of the next bar of candy she could purchase is 16 utils and the marginal utility of the next cookie she could purchase is 7' utils. a] What would be Michaela's marginal utilityr per dollar for candy and cookies if she consumes an additional unit of each [10 points] b} Should Michaela consume more cookies or more candy? Or should she leave her consumption unchanged? M10 points]
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