a) For the utility function above, if the price of the good is $4, what is the Marginal Utility per Dollar for the fourth unit consL 18 utils. b) For the utility function above, if the price of the good is $2, what is the Marginal Utility per Dollar for the second unit cons 18 utils. c) Would a rational consumer consume the eighth unit if it was free? No
a) For the utility function above, if the price of the good is $4, what is the Marginal Utility per Dollar for the fourth unit consL 18 utils. b) For the utility function above, if the price of the good is $2, what is the Marginal Utility per Dollar for the second unit cons 18 utils. c) Would a rational consumer consume the eighth unit if it was free? No
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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