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Suppose that Arthur cares only about video games and coffee. His utility function is U = VC, where V is the number of video games that he plays and C is the number of cups of coffee that he drinks. The price of video games is $50, and the price of coffee is $3. Arthur has a budget of $800. Which levels of V and C maximize Arthur's utility?
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An individual's characteristic pattern of thinking, feeling, and behaving.
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Assessments aimed at evaluating an individual's potential to learn or perform tasks, often used for educational or employment decisions.
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