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Economics

A banana gives you 10 utility. Each subsequent banana gives you 1 less utility. An apple gives you 10 utility. Each subsequent apple gives you 2 less utility. A banana costs $4, and apple cost $2, your income is $16. What is your utility maximizing consumption? Also, regardless of income, when will a rational individual stop consuming apples?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91925027

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