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Suppose a consumer has the utility structure of weekly tea and coffee consumption shown in the following table. If the price of a cup of
Suppose a consumer has the utility structure of weekly tea and coffee consumption shown in the following table. If the price of a cup of tea is $1 and the price of a cup of coffee is $2, how many of each would the consumer purchase if the consumer had $10 to spend? What is the total utility level at the optimal consumption mix?
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