How will the consumer respond

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Reference no: EM131130162

Choosing a Protein Beverage. Consider a consumer who must choose between two protein drinks, A and B. The following table shows the protein content and prices for the two drinks. (Related to Application 1 on page 468.)

a. Fill in the blanks in the table. Which beverage generates the largest bang (protein content) per dollar? Which is the better choice for a consumer whose utility from the product depends only on the protein content?

b. Suppose the government imposes a tax of $4 on beverage B, and the price increases by the amount of the tax. How will the consumer respond?

Reference no: EM131130162

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