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What is the optimal consumption bundle and marginal utility per dollar?
The optimal consumption bundle is the consumption bundle which maximizes a consumer's total utility specified his or her budget constraint.
The marginal utility per dollar spent onto a good or service is the additional utility through spending one more dollar on which good or service.
Marginal utility per dollar spent onto a good = marginal utility of one unit of the good/price of one unit of the good = MUgood/Pgood
Uses of national income statistics: - It helps to organize economic data and activities. - It helps to classify economic activities into various segments or sectors. - It he
TAKE A HYPOTHETICAL ECOMOMY AND CONSTRUCT THE CONSUMPTION SCHUDEL CONTAIN 10 PAIR OF HYPOTHETICAL VALUE OF AGGERGET INCOME AND CONSUMPTOIN
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