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Jack has an income of $150 per month which has to be spent on two goods Shoes and Jeans From the following table

Jack has an income of $150 per month which has to be spent on two goods: Shoes and Jeans. From the following table, estimate the bundle which maximizes Jack's well-being.

 

Quantity (units)

Shoes ($20/pair)

Jeans ($10/pair)

 

Marginal Benefits ($)

Marginal Benefits ($)

0

-

-

1

40

35

2

33

33

3

28

22

4

23

15

5

20

10

6

15

7.5

Mar 14 2020 View more View Less

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