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Business, 27.07.2021 15:30 DarcieMATHlin6217

The price of lemonade is $1.50; the price of popcorn is $0.75. If Fred has maximized his utility by purchasing lemonade and popcorn, his marginal rate of substitution will be: Group of answer choices 1/2 lemonade for each popcorn. indeterminate unless more information on Fred's marginal utilities is provided. 2 lemonades for each popcorn. none of these options is correct

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The price of lemonade is $1.50; the price of popcorn is $0.75. If Fred has maximized his utility by...
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