Popeye receives a marginal utility of 12 utils for the last can of spinach consumed.If the price of a can of spinach is 50 cents per can,then the marginal utility per dollar spent on the last can of spinach is equal to:
A) 6 utils per dollar.
B) 12 utils per dollar.
C) 18 utils per dollar.
D) 24 utils per dollar.
Correct Answer:
Verified
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