Chris consumes coke and cookies. The marginal utility of coke at his current consumption level is 12
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Chris consumes coke and cookies. The marginal utility of coke at his current consumption level is 12 and the marginal utility of cookies at his current consumption level is 9. The price of coke is $1.00 and the price of cookies is $0.50. Is Chris maximizing his utility? If he is, explain your solution mathematically or by graphing. If he is not maximizing utility, how can Chris maximize his utility?
Related Book For
Macroeconomics Principles Applications And Tools
ISBN: 9780134089034
7th Edition
Authors: Arthur O Sullivan, Steven M. Sheffrin, Stephen J. Perez
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