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After getting an A on your economics exam, you decide to go to your favorite Mexican restaurant to ...

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After getting an A on your economics exam, you decide to go to your favorite Mexican restaurant to ...

Question 1.

Economists assume people's tastes are identical.

• true

• false

Question 2.

After getting an A on your economics exam, you decide to go to your favorite Mexican restaurant to celebrate. You are having trouble deciding whether to order the chipotle chicken chimichanga or the cilantro seafood enchiladas. Use the rule of equal marginal utility per dollar to determine which one to purchase: (a) the chimichanga for $8 which gives you 120 units of utility, or (b) the enchiladas for $15 which gives you 195 units of utility? Assume your budget is large enough to purchase either item.

Textbook

Microeconomics

Edition: 7^th

Authors: Hubbard, O'Brien

Read 35 times

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ShayT0923

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More solutions for this book are available here

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SalaDinHo Author

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This helped my grade so much

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