Question
Pants Belts Quantity Marginal utility Quantity Marginal utility 1 220 1 85 2 180 2 65...
Pants Belts
| Quantity | Marginal utility | Quantity | Marginal utility |
| 1 | 220 | 1 | 85 |
| 2 | 180 | 2 | 65 |
| 3 | 140 | 3 | 45 |
| 4 | 100 | 4 | 25 |
| 5 | 60 | 5 | 15 |
Tris is shopping for pants and belts. He has a budget of $100. The
price of a pair of pants is $20 and the price of a belt is $5. His
marginal utility schedules are above. What combination of pants and
belts does Tris buy? Explain your answer.
Homework Answers
Answer #1
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