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answer the question on the basis of the following two schedules, which show the amounts of additional satisfaction (marginal utility) that a consumer would get from successive quantities of products j and k. units of j muj units of k muk 1 56 1 32 2 48 2 28 3 32 3 24 4 24 4 20 5 20 5 12 6 16 6 10 7 12 7 8 if the consumer has money income of $64 and the prices of j and k are $8 and $4 respectively, the consumer will maximize her utility by purchasing

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wajahatkincsem

The consumer has money income of $64 and the prices of j and k are $8 and $4 respectively, the consumer will maximize her utility by purchasing 276 utils

Real income, commonly referred to as real salary, is the amount of money that a person or organisation actually makes after accounting for inflation. Real income is distinct from nominal income, which does not undergo any modifications. To have the best knowledge of their purchasing power, people frequently closely monitor the difference between their nominal and actual income.

All revenue that is received in the form of money is referred to as money income. This includes pay or wages, house rent, gifts, interest on bank deposits, and other investments.

Money-only income as opposed to other types of revenue. The research project examines methods for distributing monetary income among individuals.

Learn more about money income:

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