How big budget have to be before spend a dollar on coffee, Microeconomics

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How big budget have to be before spend a dollar on coffee

Omar's marginal utility for cups of coffee is constant at 1.5 utils per cup no matter how many cups he drinks. His marginal utility per doughnut is 10 for the first doughnut he eats, 9 for the second, and so on (declining by 1 util per additional doughnut). Coffee and doughnuts each cost 1$. Omar has a budget he can spend on coffee, doughnuts, or both. How big would that budget have to be before he would spend a dollar buying a first cup of coffee?

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Microeconomics: How big budget have to be before spend a dollar on coffee

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Microeconomics: How big budget have to be before spend a dollar on coffee

Reference No:- TGS070154

Have a Question? (oR Write a Review)

Recent Questions Asked Microeconomics

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Request for Solution File

Ask an Expert for Answer!!

Microeconomics: How big budget have to be before spend a dollar on coffee

Reference No:- TGS070154

Recent Questions Asked Microeconomics

Q : Organize all sections into a unified

Q : The conversational context of freire argument

Q : Green-product-benefits of advertising

Q : In this globalized world, every country is attached

Q : How big budget have to be before spend a dollar on coffee

Q : Design specifications for a bottled product

Q : What would be the standard hours allowed for october

Q : Unbalanced passion of the heart

Q : Creating value for shareholders in firms

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