Margos marginal utility of one dance lesson is 100 utils per lesson. Her marginal utility of a

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Margo’s marginal utility of one dance lesson is 100 utils per lesson. Her marginal utility of a new pair of dance shoes is 300 utils per pair. The price of a dance lesson is $50 per lesson. She currently spends all her income, and she buys her optimal consumption bundle. What is the price of a pair of dance shoes?

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Economics

ISBN: 9781319181949

5th Edition

Authors: Paul Krugman, Robin Wells

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