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Mapping Utility with Indifference CurvesAssume a household receives a weekly income of $95. The ...

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Mapping Utility with Indifference CurvesAssume a household receives a weekly income of $95. The ...

Mapping Utility with Indifference Curves

Assume a household receives a weekly income of $95. The graph shows the choices of that household as the price of sunblock changes.

If Q1=1, Q2=9, Q3=15, Q4=19, Q5=25, and Q6=30, fill in the prices on the household demand schedule. Please round your final answer to two decimal places.

Price of Sunblock	Quantity of Sunblock
P1	1
P2	9
P3	19

▸ P1 = $95.00, P2 = $10.56, P3 = $5.00

▸ P1 = $6.33, P2 = $3.80, P3 = $3.17

▸ P1 = $3.17, P2 = $3.80, P3 = $6.33

▸ P1 = $5.00, P2 = $10.56, P3 = $95.00

Textbook

Macroeconomics

Edition: 3^rd

Authors: Acemoglu, Laibson, List

Read 80 times

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villain Author

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Good timing, thanks!

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Thanks for your help!!

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