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Now imagine you are set on maximizing your well-being and have decided to buy the optimal bundle of books and vinyl. In order to do
Now imagine you are set on maximizing your well-being and have decided to buy the optimal bundle of books and vinyl. In order to do so, you write down the marginal benefit you get from each good, depicted in the table below. As was the case in question 3, continue assuming that your budget constraint is given by $20v + $10b = $150 (note: you are not required to fill out the table, additional blank columns added in case students want to make additional calculations):
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