Find marginal utility of the last cup of tea, Microeconomics

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Find marginal utility of the last cup of tea

Suppose that Kathy drinks coffee and tea and is in consumer equilibrium. The marginal utility of the last cup of coffee that she drank was 8, while the marginal utility of the last cup of tea she had was 7. If the price of the tea is $0.70 per cup, what is the price of a cup of coffee?

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Microeconomics: Find marginal utility of the last cup of tea

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Microeconomics: Find marginal utility of the last cup of tea

Reference No:- TGS047196

Have a Question? (oR Write a Review)

Recent Questions Asked Microeconomics

Q : Computing annual coupon payment

Q : Money in an interest-bearing account

Q : Why caterpillar have different opinion about value of dollar

Q : Yirld of money in an interest-bearing account

Q : Find marginal utility of the last cup of tea

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Request for Solution File

Ask an Expert for Answer!!

Microeconomics: Find marginal utility of the last cup of tea

Reference No:- TGS047196

Recent Questions Asked Microeconomics

Q : Computing annual coupon payment

Q : Money in an interest-bearing account

Q : Why caterpillar have different opinion about value of dollar

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Q : Find marginal utility of the last cup of tea

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