Production of pasties

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When a consumer of pasties (P) and beer (B) is maximizing utility, what condition must be met to ensure utility has been maximized by the mix of pasties and beer chosen? How does this condition relate to a similar condition that Stoll's Pasty Farm must meet to ensure that inputs of capital (K) and labor (L) are being utilized in the least cost manner in the production of pasties for any given level of output?

Reference no: EM131334780

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