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Business, 25.06.2021 03:50 kimbllumi

Paul consumes only books and DVDs. At his current consumption​ bundle, his marginal utility from DVDs is 21 and from books is 4 . Each DVD costs ​$11 ​, and each book costs ​$1 . Is he maximizing his​ utility? Explain. Let MU Subscript Upper B be the marginal utility of​ books, MU Subscript Upper D be the marginal utility from​ DVDs, Upper P Subscript Upper B be the price of​ books, Upper P Subscript Upper D be the price of​ DVDs, and MRS be the marginal rate of substitution. Paul is

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Paul consumes only books and DVDs. At his current consumption​ bundle, his marginal utility from DVD...

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