If there is neither a tax nor a subsidy, you are willing to pay $46 for 1 kg of coffee, a total of $70 for 2 kgs of coffee, and a total of $90 for 3 kg of coffee. If the government implements a $9.50 per-kg subsidy, payable to the consumer, what is the highest per-kg price at which you purchase 2 or more kgs of coffee? Round to two decimal places and do not enter a currency symbol. If your answer is $1.125, enter 1.13.

If there is neither a tax nor a subsidy, you are willing to pay $46 for 1 kg of coffee, a total of $70 for 2 kgs of coffee, and a total of $90 for 3 kg of coffee. If the government implements a $9.50 per-kg subsidy, payable to the consumer, what is the highest per-kg price at which you purchase 2 or more kgs of coffee? Round to two decimal places and do not enter a currency symbol. If your answer is $1.125, enter 1.13.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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