Every day, Josie buys 2 cups of coffee and 1 sandwich for lunch. The price of coffee
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Every day, Josie buys 2 cups of coffee and 1 sandwich for lunch. The price of coffee is $2 a cup and the price of a sandwich is $5. Josie’s choice of lunch maximizes her total utility, and she spends only $9 on lunch. Compare Josie’s marginal utility from coffee with her marginal utility from the sandwich.
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Because the price of a sandwich is 2 12 times greater than the price of a coffee a...View the full answer
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