Suppose that the marginal utility of good A is 4 times the marginal utility of good B,
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Suppose that the marginal utility of good A is 4 times the marginal utility of good B, but the price of good A is only 2 times the price of good B. Is this point consumer equilibrium? If not, what will occur?
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To determine whether this point represents consumer equilibrium we need to consider the concept of m...View the full answer
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