You enjoy consuming both Wadgets and Wudgets. You currently have six Wadgets and six Wudgets in your
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Question:
- You enjoy consuming both Wadgets and Wudgets. You currently have six Wadgets and six Wudgets in your grocery cart, but are trying to decide whether this is an optimal mix.
a. Wadgets are $4 each and Wudgets are $6 each. The sixth Wadget provides you MU = 30, and the sixth Wudget provides you MU = 33. Determine whether this is an optimal mix; if not, which product should you choose more and which should you discard?
b. After some readjusting, your last Wadget provides you MU = 24 and your last Wudget provides you MU = 36. Determine whether the readjustment led you to an optimal mix of Wadgets and Wudgets.
Related Book For
Accounting Principles Part 1
ISBN: 978-1118306789
6th Canadian edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Kinnear, Joan E. Barlow
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