Jim spends all his income and has made his best affordable choice of muffins and...
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Jim spends all his income and has made his best affordable choice of muffins and coffee. He buys 10 muffins at $1 each and 20 cups of coffee at $2 each. Now the price of a muffin rises to $1.50 and the price of coffee falls to $1.75 a cup. Jim can still afford to buy 10 muffins and 20 cups of coffee. What does marginal utility theory predict that Jill will buy?Jim will buy ________ muffins and ________ coffee.
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