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Unformatted text preview: 3. Shirts = $15 MU = 120 Slacks = $40 MU = 160 No your will not maximize your utility unless the marginal utility is equal to zero. In order to get to 0 for a marginal utility you will need to purchase more shirts and/or slacks until the Utility does not increase. There is no way to determine exactly how many shirts or slacks would need to be purchased with the information given, but that is how it would be accomplished. 4. Choosing to embrace religion as the promise of an afterlife is infact rational according to the economic definition. Rational economics is basically your actions reflect achieving an underlying goal. Of course if someone has bad actions and still think that they will get into heaven or whatever the example is it might not be rational, but as long as the actions they do are in concordance with reaching an underlying goal, it is economically rational....
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This note was uploaded on 04/16/2008 for the course HISTORY 103 taught by Professor Jones during the Spring '08 term at Syracuse.
- Spring '08