Microeconomics: Principles, Applications, and Tools (8th Edition)

Published by Prentice Hall
ISBN 10: 0-13294-886-9
ISBN 13: 978-0-13294-886-9

Chapter 7 - Consumer Choice: Utility Theory and Insights from Neuroscience - Exercises - 7.2 The Law of Demand and the Individual Demand Curve - Page 178: 2.2d

Answer

(ii)

Work Step by Step

The marginal utility is 28 for both concerts and rides, but the cost of the bundle is more than the budget,
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