More lipstick or more eye shadow

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Reference no: EM1319564

Q. Assume Valerie is consuming lipstick (L) also eye shadow (E) also nothing else. MUL = 24 also MUE = 20. The price of eye shadow is $5 also the price of lipstick is $4. Illustrate what should Valerie do? To get to consumer equilibrium, should she buy more lipstick or more eye shadow? Utilize your knowledge of consumer equilibrium also utility maximization also the law of Demand to Elucidate Explain why she should buy more lipstick or more eye shadow. Elucidate how your calculations also then elucidate your answer.

Reference no: EM1319564

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