Different consumption bundles until their marginal utility

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For utility maximization, consumers will purchase different consumption bundles until their marginal utility per dollar are equal. So, when the marginal utility of beef is 10 at price of $5 per lb and the marginal utility of chicken is 8 at price of $3 per lb, will you purchase more beef or chicken? Explain briefly about your decision.

Reference no: EM131000057

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