Joaquin's marginal utility from an additional slice of pumpkin pie is 16 utils and his marginal utility from an additional slice of pecan pie is 13 utils. If a slic of pumpkin pie costs $4.00, and a slice of pecan pie costs $3.25, then Joaquin Multiple Choice should reallocate his spending towards pecan pie and away from pumpkin ple should reallocate his spending towards pumpkin pie and away from pecan ple.

Joaquin's marginal utility from an additional slice of pumpkin pie is 16 utils and his marginal utility from an additional slice of pecan pie is 13 utils. If a slic of pumpkin pie costs $4.00, and a slice of pecan pie costs $3.25, then Joaquin Multiple Choice should reallocate his spending towards pecan pie and away from pumpkin ple should reallocate his spending towards pumpkin pie and away from pecan ple.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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