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Title: Lilly Davis has $5 per week to spend on any combination of ice cream and candy. The price of an ice Post by: Tidy on Jun 21, 2015 Lilly Davis has $5 per week to spend on any combination of ice cream and candy. The price of an ice cream cone is $2 and the price of a candy bar is $1. The table below shows Lilly's utility values. Use the table to answer the questions that follow the table.
Quantity of Ice Cream Cones Total Utility Marginal Utility Marginal Utility per Dollar Quantity of Candy Total Utility Marginal Utility 1 20 1 20 2 38 2 38 3 52 3 48 4 62 4 54 a. Complete the table by filling in the blank spaces. b. Suppose Lilly purchases 2 ice cream cones and 1 candy bar. Is she consuming the optimal consumption bundle? If so, explain why. If not, what combination should she buy and why? Title: Re: Lilly Davis has $5 per week to spend on any combination of ice cream and candy. The price of an Post by: Chimelo46 on Jul 30, 2015 Content hidden
Title: Re: Lilly Davis has $5 per week to spend on any combination of ice cream and candy. The price of an ice Post by: Chimelo46 on Aug 31, 2015 Happy to assist!
Title: Re: Lilly Davis has $5 per week to spend on any combination of ice cream and candy. The price of an ... Post by: Tyler Lieu on Oct 13, 2020 thank you
Title: Re: Lilly Davis has $5 per week to spend on any combination of ice cream and candy. The price of an ... Post by: Jonathan lawson on Nov 19, 2020 Thanks you
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