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Ronald, who consumes only hamburgers and hot dogs, has a weekly income of $50. He is currently consuming 20 hamburgers, at a price of $2 each, and 10 hot dogs, at a price of $1 each. If the last hamburger and the last hot dog both added 50 units to Ronald's total utility, he a. is making the utilityďmaximizing choice. b. should buy more hamburgers and fewer hot dogs. c. should buy more hot dogs and fewer hamburgers. d. obtains more additional utility per dollar from hot dogs than from hamburgers. e. both c and d
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Ronald, who consumes only hamburgers and hot dogs, has a weekly income of $50. He is currently consu...
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