Marge has spent her entire budget on milk and cookies

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Reference no: EM131391928

Marge has spent her entire budget on milk and cookies. The last glass of milk provided Marge with 10 additional utils and the last cookie provided her with 25 additional utils. The price of a cookie is twice the price of a glass of milk. Assuming that diminishing marginal utility applies to both goods, marge should consume ____milk and___ cookies

1) more; fewer

2) less; more

3) more; more

4) less; fewer

Reference no: EM131391928

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