Question
Answered step-by-stepAsked by CorporalPencilAlligator30 on coursehero.com
. Enrique is a movie buff. He likes to watch on-demand movies...
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Enrique is a movie buff. He likes to watch on-demand movies from
his cable company, which cost $5 each, and he also likes to go to
the local movie house, which charges $15 a ticket. Suppose that
given his budget and his tentative spending plans, the marginal
utility from a cable movie is 15 utils and the marginal utility of a
movie at the local cinema is 45 utils.
Assuming he is spending his entire budget,
Enrique is currently maximizing his utility
Enrique can increase his utility by buying more cable movies
and watching fewer cinema movies
Enrique can increase his utility by buying more cinema
movies and fewer cable movies
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Answer & Explanation
Solved by verified expertAnswered by eugenemagay14 on coursehero.com
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