Consider a consumer with 10 to spend on these 2 goods where, Ask an Expert

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Q. Consider a consumer with $10 to spend on these 2 goods where the price of apples is always $2 every.

Apples Oranges
Q U Q U
1 50 1 30
2 75 2 56
3 85 3 78
4 90 4 96
5 92 5 108
6 93 6 116

a) Find the utility maximizing combination of apples also oranges if oranges cost $4 every. Elucidate why the consumer didn't choose the bundle of 3 apples also 4 oranges.

b) Repeat all of part (a) if oranges cost $1 every.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9162236

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