After Getting an a on Your Economics Exam, You Decide

question 86

Essay

After getting an A on your economics exam, you decide to go to your favorite Mexican restaurant to celebrate.You are having trouble deciding whether to order the chipotle chicken chimichanga or the cilantro seafood enchiladas.Use the rule of equal marginal utility per dollar to determine which one to purchase: (a)the chimichanga for $8 which gives you 120 units of utility, or (b)the enchiladas for $15 which gives you 195 units of utility?

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Definitions:

Falsely Claimed

Statements or claims made untruthfully or deceitfully, often in legal or financial contexts to gain an advantage.

Financial Markets

Platforms or systems where financial securities and commodities are traded between buyers and sellers, facilitating the allocation of resources and distribution of risk.

Shift Consumption

Refers to changes in spending patterns of consumers typically resulting from economic factors, technological advances, or shifts in preferences.

Price Securities

Price securities involve determining the market value of financial instruments such as stocks, bonds, or derivatives based on supply and demand.