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Macroeconomics 1st Edition by Dean Karlan,Jonathan Morduch
Edition 1ISBN: 978-0077332648Macroeconomics 1st Edition by Dean Karlan,Jonathan Morduch
Edition 1ISBN: 978-0077332648 Exercise 19
Suppose the price of a sweater is $15. Julia's benefit from purchasing each additional sweater is given in the table below. Julia gets the most benefit from the first sweater and less benefit from each additional sweater. If Julia is behaving rationally, how many sweaters will she purchase?
Explanation
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Maximize the benefit:
For a consumer pr...
Macroeconomics 1st Edition by Dean Karlan,Jonathan Morduch
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