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Lucinda collects Kewpie dolls, and can afford to buy up to 6 dolls. The table below describes the marginal benefit Lucinda gets for each additional
Lucinda collects Kewpie dolls, and can afford to buy up to 6 dolls. The table below describes the marginal benefit Lucinda gets for each additional doll she adds to her collection.
Lucinda's Marginal Benefit of Kewpie Dolls
a) If the price of Kewpie dolls is $8 per doll, how many dolls would Lucinda buy if she is rational?
b) If the price of Kewpie dolls rose to $10 per doll, how many dolls would Lucinda buy if she is rational?
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