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Question
Eating a steak gives Greta satisfaction equal to 55 utils, whereas eating a hamburger gives her a satisfaction of 25 utils. Greta should
a. always choose to eat steak over hamburger.
b. always choose to eat hamburger over steak.
c. eat steak only if it is cheaper than hamburger.
d. eat hamburger only if she has recently eaten steak.
e. eat hamburger only if it is cheaper per util than steak.
Answer
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Related questions
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What is the long-run consequence of a price ceiling law?
a. A surplus will continue to exist and will grow larger over time.
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Q:
Suppose Solomon lives in a community with no price controls. What do you expect will happen if his town borders a community where there is a binding price ceiling on most products?
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Q:
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Q:
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Q:
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