ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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6 Rebecca consumes both iced tea and coffee. Iced tea is priced at $1.50 per bottle and coffee at $2.00
per 16-ounce cup. Which of the following marginal utility pairs is consistent with Rebecca's
consumer equilibrium at these prices?
a. MU of iced tea = 1; MU of coffee - 1
b. MU of iced tea -1; MU of coffee-2
c. MU of iced tea -2; MU of coffee = 3
d. MU of iced tea = 3; MU of coffee = 4
e. MU of iced tea = 4; MU of coffee = 5
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Transcribed Image Text:6 Rebecca consumes both iced tea and coffee. Iced tea is priced at $1.50 per bottle and coffee at $2.00 per 16-ounce cup. Which of the following marginal utility pairs is consistent with Rebecca's consumer equilibrium at these prices? a. MU of iced tea = 1; MU of coffee - 1 b. MU of iced tea -1; MU of coffee-2 c. MU of iced tea -2; MU of coffee = 3 d. MU of iced tea = 3; MU of coffee = 4 e. MU of iced tea = 4; MU of coffee = 5
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