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Kyle cares about two things: leisure and consumption. At the current bundle, Kyle's marginal utility of leisure is 100 and his marginal utility of consumption
Kyle cares about two things: leisure and consumption. At the current bundle, Kyle's marginal utility of leisure is 100 and his marginal utility of consumption is 50. His wage rate is $20 per hour. The price of consumption goods is $5. At the current bundle, which of the following is TRUE? C Kyle is at a potentially utility maximizing bundle Kyle should choose less leisure and more consumption Kyle should choose more leisure and less consumption O None of the above are correct based on the information
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