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Cole has $27 that he plans to spend purchasing 5 units of good X (priced at $3 per unit) and 6 units of good Y (priced at $2 per unit). The marginal utility of the fifth unit of X is 30, and the marginal utility of the sixth unit of Y is 30. If Cole is a utility maximizer, he should
a. buy more of X and less of Y.
b. not buy anything.
c. buy X and Y in the quantities indicated.
d. buy less of X and more of Y.
e. from the information given, it is impossible to determine whether or not Cole should increase or decrease his consumption of X and Y.
q.the long-run cost function for leanns telecommunication firm is cq 0.03q2. a local telecommunication tax of 0.01 has
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If all n identical firms in a market belong to a cartel, how much total output will be produced relative to the monopoly output, and how much will each firm produce?Suppose the graph on the next page depicts the demand for football tic k ets at Gr..
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A major bakery-cafe chain is evaluating whether they should consolidate its two offices into one location when the two leases expire. In addition, the company also needs to decide
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