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A bottle of wine costs $8 and a quiche, $5. At Robert's present levels of consumption, he spends all his income and receives marginal utility of $10 from the last bottle of wine and marginal utility of
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Jan 14, 2020
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A bottle of wine costs $8 and a quiche, $5. At Robert's present levels of consumption, he spends all his income and receives marginal utility of $10 from the last bottle of wine and marginal utility of $4 from the last quiche. To maximize his total utility, Robert should a. buy less wine and more quiche. b. buy more wine and less quiche. c. spend all of his money on wine. d. spend all of his money on quiche.
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Answer:
C. Robert is an Alcoholic
Step-by-step explanation:
Niels Bosman
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Jan 18, 2020
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