Suppose that at your currently weekly consumption levels, your marginal utility from bagels is 100 and your

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Suppose that at your currently weekly consumption levels, your marginal utility from bagels is 100 and your marginal utility from oranges is 75. The price per bagel is $1.00 and the price per orange is $0.50. Next week, if all prices and your budget for bagels and oranges remain the same, you should consume

a. The same quantity of each good.

b. More bagels and fewer oranges.

c. More oranges and fewer bagels.

Explain your answer.

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Survey Of Economics

ISBN: 9781429259569

1st Edition

Authors: David A. Anderson

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