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Business, 17.01.2020 21:31 russboys3

The price of lemonade is $0.50; the price of popcorn is $1.00. if fred has maximized his utility by purchasing lemonade and popcorn, his marginal rate of substitution will be

a. 2 lemonades for each popcorn.
b. 1/2 lemonade for each popcorn.
c. 1 lemonade for each popcorn.
d. indeterminate unless more information on fred's marginal utilities is provided.

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