1.15 Refer to Problems 1.13 and 1.14. If charles lackey's utility costs remain constant at $500 per month, labor at $8 per hour, and cost of ingredients at $0.35 per loaf, but Charles does not purchase the blender suggested in Problem 1.14, what will the productivity of the bakery be? What will be the percent increase or decrease?

Microeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter7: Consumer Choice And Elasticity
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1.15 Refer to Problems 1.13 and 1.14. If charles lackey's utility costs remain constant at $500 per month, labor at $8 per hour, and cost of ingredients at $0.35 per loaf, but Charles does not purchase the blender suggested in Problem 1.14, what will the productivity of the bakery be? What will be the percent increase or decrease?

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