(solution) 1. Lucinda collects Beanie Babies, and can afford to buy up to

1.

Lucinda collects Beanie Babies, and can afford to buy up to six of them. The table below describes the marginal benefit Lucinda gets for each additional Beanie Baby she adds to her collection.

 Lucinda's Beanie Baby Marginal Benefit Beanie Babies Marginal Benefit (dollars) 1 \$12.00 2 10.00 3 8.00 4 6.00 5 4.00 6 2.00

a. If the price of Beanie Babies is \$8.00 per Beanie Baby, how many Beanie Babies would Lucinda buy if she is rational?

 2 Beanie Babies 4 Beanie Babies 3 Beanie Babies 1 Beanie Baby

b. If the price of Beanie Babies rose to \$10.00 per Beanie Baby, how many Beanie Babies would Lucinda buy if she is rational?

 4 Beanie Babies 3 Beanie Babies 2 Beanie Babies 1 Beanie Baby

Solution details:
STATUS
QUALITY
Approved

This question was answered on: Jan 30, 2021

Solution~0001000091.zip (25.37 KB)

This attachment is locked

We have a ready expert answer for this paper which you can use for in-depth understanding, research editing or paraphrasing. You can buy it or order for a fresh, original and plagiarism-free solution (Deadline assured. Flexible pricing. TurnItIn Report provided)

STATUS

QUALITY

Approved

Jan 30, 2021

EXPERT

Tutor