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Ilovebacon22 Ilovebacon22
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5 years ago

Assume that for a given consumer, the marginal utility of wine is 100 and the price of wine is $60. Also, assume that the marginal utility of lobster is 200 and the price of lobster is $100. This consumer



• is in equilibrium.

• should buy more wine.

• should buy more lobster.

• can't tell; insufficient information given to answer the question
Textbook 
Introduction to Agricultural Economics

Introduction to Agricultural Economics


Edition: 7th
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n00835996n00835996
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