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Economics

Suppose that Kathy drinks coffee and tea and is in consumer equilibrium. The marginal utility of the last cup of coffee that she drank was 8, while the marginal utility of the last cup of tea she had was 7. If the price of the tea is $0.70 per cup, what is the price of a cup of coffee?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M947196

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