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Economics

Mike's preferences for Budweiser (B) and Sam Adams (S) can be represented by: U (B,S) = 10B + S. How will Mike split his income of $3 under the following scenarios?

A. The price of Budweiser is $1, the price of Sam Adams is $0.11

B. The price of Budweiser is $1, the price of Sam Adams is $0.09

C. The price of Budweiser is $1, the price of Sam Adams is $0.10

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91228451

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