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Q. Omar's marginal utility for cups of coffee is constant at 1.5 utils every cup no matter elucidate how many cups he drinks. His marginal utility every doughnut is 10 for the 1st doughnut he eats, 9 for the second also so on (declining by 1 util every additional doughnut). Coffee also doughnuts each cost 1$. Omar has a budget he can spend on coffee, doughnuts, or both. Elucidate how big would that budget have to be before he would spend a dollar buying a 1st cup of coffee?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9170917

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