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Determining the utility-maximizing choice

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Question: Kevin spends his money on jeans and sweaters. Each sweater cost $50. At his utility-maximizing choice, his marginal utility from last sweater is 100 units of utility. The last pair of jeans was 200 units of utility. Does this mean the price of a pair of jeans is $50 or more?

Reference no: EM132460726

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