Business, 18.02.2020 20:58 ld966057

An art student spends all of her income on pencils and drawing pads. The student currently buys 30 pencils at $1 each and 10 pads at $5 each. If the marginal utility of the 30th pencil is 100 utils and the marginal utility of the 10th pad is 400 utils, to maximize utility the student should change her purchases of pencils and pads in which of the following ways?
Pencils Pads
a. Not change Buy more
b. Buy more Buy more
c. Buy more Buy less
d. Buy less Buy more
e. Buy less Buy less

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An art student spends all of her income on pencils and drawing pads. The student currently buys 30 p...

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