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Use the Following to Answer Questions 64-65

Question 61

Essay

Use the following to answer questions 64-65:
Figure 15.11 Use the following to answer questions 64-65: Figure 15.11   -(Figure 15.11) Billy Joe's marginal utility of peaches is given by   = C and his marginal utility of cream is given by   = P, where C is cups of cream and P is pounds of peaches. Bobby Sue's marginal utility of peaches is given by   = 2CP, and her marginal utility of cream is given by   = P<sup>2</sup>.
-(Figure 15.11) Billy Joe's marginal utility of peaches is given by Use the following to answer questions 64-65: Figure 15.11   -(Figure 15.11) Billy Joe's marginal utility of peaches is given by   = C and his marginal utility of cream is given by   = P, where C is cups of cream and P is pounds of peaches. Bobby Sue's marginal utility of peaches is given by   = 2CP, and her marginal utility of cream is given by   = P<sup>2</sup>.  = C and his marginal utility of cream is given by Use the following to answer questions 64-65: Figure 15.11   -(Figure 15.11) Billy Joe's marginal utility of peaches is given by   = C and his marginal utility of cream is given by   = P, where C is cups of cream and P is pounds of peaches. Bobby Sue's marginal utility of peaches is given by   = 2CP, and her marginal utility of cream is given by   = P<sup>2</sup>.  = P, where C is cups of cream and P is pounds of peaches. Bobby Sue's marginal utility of peaches is given by Use the following to answer questions 64-65: Figure 15.11   -(Figure 15.11) Billy Joe's marginal utility of peaches is given by   = C and his marginal utility of cream is given by   = P, where C is cups of cream and P is pounds of peaches. Bobby Sue's marginal utility of peaches is given by   = 2CP, and her marginal utility of cream is given by   = P<sup>2</sup>.  = 2CP, and her marginal utility of cream is given by Use the following to answer questions 64-65: Figure 15.11   -(Figure 15.11) Billy Joe's marginal utility of peaches is given by   = C and his marginal utility of cream is given by   = P, where C is cups of cream and P is pounds of peaches. Bobby Sue's marginal utility of peaches is given by   = 2CP, and her marginal utility of cream is given by   = P<sup>2</sup>.  = P2. Use the following to answer questions 64-65: Figure 15.11   -(Figure 15.11) Billy Joe's marginal utility of peaches is given by   = C and his marginal utility of cream is given by   = P, where C is cups of cream and P is pounds of peaches. Bobby Sue's marginal utility of peaches is given by   = 2CP, and her marginal utility of cream is given by   = P<sup>2</sup>.

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a. Billy Joe's MRS = marginal utility of...

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