Question
Chirstine has $300 to allocate between opera tickets and movie tickets. The price of each opera ticket is $60, and the price of each movie
Chirstine has $300 to allocate between opera tickets and movie tickets. The price of each opera ticket is $60, and the price of each movie ticket is $6. Her marginal rate of substitution of opera tickets for movie tickets equals 5, regard- less of what market bundle she chooses. How many opera tickets does she purchase?
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Managerial Economics and Organizational Architecture
Authors: James Brickley, Jerold Zimmerman, Clifford W. Smith Jr
5th edition
73375829, 978-0073375823
