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Bjorn is a student with a monthly budget of $500, which he allocates between transportation services ...

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Bjorn is a student with a monthly budget of $500, which he allocates between transportation services ...

Bjorn is a student with a monthly budget of $500, which he allocates between transportation services and "all other goods." Suppose the price of transportation is $5 per unit, and the price of "all other goods" is $20 per unit. The marginal utility he currently receives from his consumption of transportation services is 60. How many units of "all other goods" is he consuming if he is maximizing his utility?

▸ 240

▸ 200

▸ 60

▸ 25

▸ There is not enough information to determine.

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Microeconomics

Edition: 17^th

Author: Ragan

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kaykay41 Author

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Thank you, thank you, thank you!

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this is exactly what I needed

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