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Business, 05.03.2020 23:39 cyanezc1313
Assume you are spending your full budget and purchasing such amounts of X and Y that the marginal utility from the last units consumed is 40 and 20 utils, respectively. Assume (a) the prices of X and Y are $8 and $4 respectively; (b) it takes 3 hours to consume a unit of X and 1 hour to consume a unit of Y; and (c) your time is worth $2 per hour. You
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Assume you are spending your full budget and purchasing such amounts of X and Y that the marginal ut...
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