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The Price of CDs Is $15 and the Price of Pizzas

Question 67

Essay

The price of CDs is $15 and the price of pizzas is $10.Derek spends all of his income buying 2 CDs and 6 pizzas per week (and nothing else).Determine Derek's income,draw his budget line and represent his utility-maximizing point using an indifference curve.

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(2 CDs × $15)+ (6 Pizzas × $10...

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