Andy purchases only two goods apples q1 and kumquats q2 he, Ask an Expert

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Andy purchases only two goods, apples (q1) and kumquats (q2). He has an income of $40 and can buy apples at $2 per pound and kumquats at $4 per pound. His utility function is U(q1,q2)=3(q1)+ 5(q2). What is his marginal utility for apples and what is his margina utility for kumquats? What bundle of apples and kumquats should he purchase to maximize his utility? Why?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91272795

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