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(solution) Use the following to answer the questions below: z is the


Use the following to answer the questions below:

  • z is the marginal utility per dollar measured in utils, x is the amount spent on product A, and y is the amount spent on product B.
  • Assume MUA = z = 40 ? x and MUB = z = 84 ? 4y.
  • Assume that the consumer has $40 to spend on A and B; that is, x + y = 40.

What is the marginal utility per dollar? What is best way to allocate the expenditure of the $40?

 

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Sep 13, 2020

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