Dennis Toffice purchases only candy and toothpaste. The price of candy is $1 per bag and...

 

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Dennis Toffice purchases only candy and toothpaste. The price of candy is $1 per bag and the price of toothpaste is $3 per tube. The table below details Dennis' marginal utility from candy and toothpaste. Bags of Candy 0 1 2 3 5 6 7 8 Marginal Utility of Candy 17 15 13 11 9 7 5 3 MU/P for Candy Toothpaste Tubes 0 1 2 3 4 5 6 7 8 Marginal Utility of Toothpaste 30 27 24 21 18 15 12 9 MU/P for Toothpaste As a utility-maximizing consumer, if Dennis has a disposable income of $11, he should purchase total utility. to maximize his Dennis Toffice purchases only candy and toothpaste. The price of candy is $1 per bag and the price of toothpaste is $3 per tube. The table below details Dennis' marginal utility from candy and toothpaste. Bags of Candy 0 1 2 3 5 6 7 8 Marginal Utility of Candy 17 15 13 11 9 7 5 3 MU/P for Candy Toothpaste Tubes 0 1 2 3 4 5 6 7 8 Marginal Utility of Toothpaste 30 27 24 21 18 15 12 9 MU/P for Toothpaste As a utility-maximizing consumer, if Dennis has a disposable income of $11, he should purchase total utility. to maximize his

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To determine how Dennis should allocate his budget between candy and toothpaste we need to calc... View the full answer