The table below shows the per unit prices and marginal utility for the last unit of waffles and donuts that Luke purchased. Price per unit Waffles $25 50 Donuts $10 Marginal utility Luke spent all of his allocated budget on waffles and donuts. To maximize his utility, Luke should purchase O fewer of both goods O fewer waffles and more donuts equal amounts of both goods O more of both goods O more waffles and fewer donuts 50

The table below shows the per unit prices and marginal utility for the last unit of waffles and donuts that Luke purchased. Price per unit Waffles $25 50 Donuts $10 Marginal utility Luke spent all of his allocated budget on waffles and donuts. To maximize his utility, Luke should purchase O fewer of both goods O fewer waffles and more donuts equal amounts of both goods O more of both goods O more waffles and fewer donuts 50

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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