Multiple Choice
The price of bread is $1.50 per pound and the price of butter is $3 per pound.Steve has an income of $30,with which he buys 4 pounds of bread.How many pounds of butter does he buy,assuming he buys nothing else and he maximizes his utility?
A) 8
B) 12
C) 4
D) There is not enough information to answer the question.
Correct Answer:
Verified
Correct Answer:
Verified
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