Business, 20.09.2020 09:01 LordYoshee8676

Suppose tacos cost $3 each and hot dogs cost $2 each. The table below shows the marginal utility that Fred gets from consuming these two goods. Fill in the values in the marginal utility per dollar columns (MU/P) for each good. Marginal Utility Marginal Utility Marginal Utility Marginal Utility
of Tacos of Tacos per dollar Hot of Hot Dogs of Hot Dogs per
Tacos MU (P = $3) MU/P Dogs MUh Dollar (Ph = $2)
MUh/Ph
1 15 1 20
2 12 2 16
3 9 3 10
4 6 4 6
To maximize utility, if Fred has $12 to spend, he should consumetaco(s) andhot dog(s).

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Suppose tacos cost $3 each and hot dogs cost $2 each. The table below shows the marginal utility tha...

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