please write an explanation or steps if involved, thank you!
Homework Answers
Answer
C=4 and N=5
=====
The utility is maximum at MU per dollar of both goods is equal and the consumer spend all the income
| Q | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 |
| Coffee MU | 10 | 8 | 6 | 4 | 2 | 0 | -2 | -4 |
| MU/$ | 5 | 4 | 3 | 2 | 1 | 0 | -1 | -2 |
| Q | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 |
| Nuts MU | 20 | 12 | 8 | 4 | 0 | 0 | -10 | -20 |
| MU/$ | 5 | 3 | 2 | 1 | 0 | 0 | -2.5 | -5 |
Seema consumes 5 units of coffee with $10 and 4 units of nuts with $16 so total spending is $26 and the MU per dollar from both goods is the same.
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please write an explanation or steps if involved, thank you!
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Please include an explanation of the answer. Thank you.
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please write an explanation or steps if involved, thank you! PT 2. Rinzin spends all of...
please write an explanation or steps if involved, thank you!
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please write an explanation or steps if involved, thank you!
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please write an explanation or steps if involved, thank you!
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Please include an explanation of the answer. Thank you.
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please write an explanation or steps if involved, thank you!
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please write an explanation or steps if involved, thank you!
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