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Business, 05.08.2019 16:20 rayniqueamee2002

Suppose apples come in two quality levels, low quality and high quality. at a store in the apple-growing region, the price of low-quality apples is $3 per pound, and the price of high-quality apples is $6 per pound. johnny lives in the apple-growing region and buys 8 pounds of each type. his marginal utility of low-quality apples is 9 utils and his marginal utility of high-quality apples is 18 utils. is johnny maximizing his utility? a. yes. the marginal utility of high quality apples is > the marginal utility of low quality apples. b. yes. the marginal utility per dollar of each good is equal. c. no. the marginal utility per dollar of low-quality apples is > the marginal utility per dollar of high-quality apples. d. no. the marginal utility per dollar of high-quality apples is > the marginal utility per dollar of low-quality apples.

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