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Assume James Purchases Only Two Goods,steak and Chicken,with His Weekly

Question 64

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Assume James purchases only two goods,steak and chicken,with his weekly income of $60.The price of steak is $10 and the price of chicken is $5.The following table shows the marginal utility James gets from each additional pound of steak and chicken: Assume James purchases only two goods,steak and chicken,with his weekly income of $60.The price of steak is $10 and the price of chicken is $5.The following table shows the marginal utility James gets from each additional pound of steak and chicken: Given the above information,what quantities of steak and chicken should James purchase to maximize his utility? A) 3 steak,2 chicken B) 5 steak,2 chicken C) 4 steak,4 chicken D) 2 steak,5 chicken E) none of the above Given the above information,what quantities of steak and chicken should James purchase to maximize his utility?


A) 3 steak,2 chicken
B) 5 steak,2 chicken
C) 4 steak,4 chicken
D) 2 steak,5 chicken
E) none of the above

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