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Again, the $3 hamburger offers the following utility. In addition, $2 hotdogs offer different utilities. What combination of hamburgers and hotdogs will maximize your utility
Again, the $3 hamburger offers the following utility. In addition, $2 hotdogs offer different utilities. What combination of hamburgers and hotdogs will maximize your utility based on your budget? (you have $8) $3 Utility Units U/$ $2 Utility Units U/$ 1st hamburger 12 1st hotdog 10 2nd hamburger 6 2nd hotdog 7 3rd hamburger 3 3rd hotdog 3 4th hamburger 1 4th hotdog 1 Hint: convert utility per dollar for each item. Buy the highest bang for the buck items first, until you run out of money. Fractions of a good cannot be purchased. a 1 hamburger and 2 hotdogs b 2 hamburgers and 1 hotdog c 2 hamburgers and 2 hotdogs d 4 hamburgers
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