Orange juice and apple juice as perfect substitutes

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Tom views orange juice and apple juice as perfect substitutes: He is always indifferent between 3 glass of orange juice and 2 glass of apple juice. Suppose the price of orange juice is $1 per glass and the price of apple juice is $2 per glass. Tom has $10 dollars in total.

How many glasses of orange and apple juice will Tom consume when utility is maximized? List detailed steps.

Reference no: EM13895970

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