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Figure 10-2 Figure 10-2 represents the demand for ice cream cones. Refer to Figure 10-2. Which of the following statements is true? Group of answer
Figure 10-2 Figure 10-2 represents the demand for ice cream cones. Refer to Figure 10-2. Which of the following statements is true? Group of answer choices Points a and b are derived independently of the utility-maximizing model. Points a and b are the utility-maximizing quantities of ice cream cones at two different prices of ice cream. Points a and b may not necessarily be the utility-maximizing quantities of ice cream cones at two different prices because we have no information on the consumer's budget or the price of other goods. Point a could be a utility-maximizing choice if the price is $3 but point b may not be because we have no information on the marginal utility per dollar when price changes
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