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Use the table below to answer the following question. Suppose that you have $10 to spend on lunch. Given this budget constrain, the optimal mix
Use the table below to answer the following question. Suppose that you have $10 to spend on lunch. Given this budget constrain, the optimal mix of pizza and cokes to maximize your utility is Pizza (Price = $3 per slice) Coke (Price = $1 per can) Q of Utility MU MU per Q of Utility MU of MU pizza from per pizza dollar coke from coke per slices pizza slice coke dollar 0 0 0 1 70 1 25 2 130 2 30 3 160 3 33 4 170 4 33 5 160 un 30 6 130 6 25 3 slices of pizza and 1 can of coke 2 slices of pizza and 1 can of coke 4 slices of pizza and 3 cans of coke 2 slices of pizza and 3 cans of coke Generally speaking, the demand curve is -__ sloping; this implies that when the price of a good the quantity of that good demanded will rise. downward; rises upward; rises upward; falls downward; falls Suppose that a study finds that the price elasticity of demand for preventative care is .. If the price of care were to rise by 2%, we would expect the quantity of preventative care consumed to by 0.86%. 0.86; rise O 0.86; fall O 0.43; fall O 0.43; rise
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