ECONOMICS
COST BENEFIT ANALYSIS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Garcia is currently spending his entire lunch budget on 3 sodas and 4 hot dogs. At his current level of consumption, Garcia’s marginal utility for sodas is 5 utils and his marginal utility for hot dogs is 10 utils. In order to maximize his total utility, Garcia should
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consume more sodas and fewer hot dogs regardless of the prices
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consume more hot dogs and fewer sodas regardless of the prices
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maintain his current level of consumption of sodas and hot dogs regardless of the prices
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maintain his current level of consumption if the price of a soda is $1 and the price of a hot dog is $2
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maintain his current level of consumption if the price of a soda is $2 and the price of a hot dog is $1
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Explanation:
There is 1 question to complete.