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Assume that widgets and trinkets are both priced at $2 per unit and that Carlita has $70 to spend on widgets and trinkets. Carlita buys
Assume that widgets and trinkets are both priced at $2 per unit and that Carlita has $70 to spend on widgets and trinkets. Carlita buys 18 units of widgets and 12 units of trinkets. The marginal utility of widgets is 30 and the marginal utility of trinkets is 30. This indicates that
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Introductory Econometrics A Modern Approach
Authors: Jeffrey M. Wooldridge
4th edition
978-0324581621, 324581629, 324660545, 978-0324660548
