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The elementary school has one candy machine in the cafeteria. Candy at the vending machine costs $1.50. The machine requires exact change for each purchase:
The elementary school has one candy machine in the cafeteria. Candy at the vending machine costs $1.50. The machine requires exact change for each purchase: one dollar bill and two quarters.
- What is the utility function for dollar bills and quarters, with x representing the number of dollar bills and y representing the number of quarters?
- Draw three indifference curves for dollar bills and quarters, for a typical customer at the vending machine.
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Agricultural Economics
Authors: Evan Drummond, John Goodwin
3rd edition
136071929, 978-0136071921
