Question
the price of yogurt is $2, and John gains marginal utility from his 2nd yogurt equal to 15 units. Fancy chocolate bars are $4 and
the price of yogurt is $2, and John gains marginal utility from his 2nd yogurt equal to 15 units. Fancy chocolate bars are $4 and John gains marginal utility from his 1st bar equal to 25 units. If John is a rational consumer who is constrained by his budget, which item should he buy?
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Managerial Economics and Business Strategy
Authors: Michael R. baye
7th Edition
978-0073375960, 71267441, 73375969, 978-0071267441
