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The Local Farmer's Market Sells Corn for 20 Cents an Ear

Question 69

Essay

The local farmer's market sells corn for 20 cents an ear. At this price, Sam buys 6 ears each Thursday. What would happen to Sam's consumption of corn if the market offered corn at 20 cents an ear for the first 6 ears, but 10 cents an ear for each additional ear? Explain your answer.

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Sam's budget constraint would now exhibi...

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