Business, 26.02.2020 23:46, allicat133

Jack has allocated $30 toward coffee and tea and feels that coffee and tea are perfect substitutes. Due to differences in caffeine levels, his MRS of tea for coffee equals two. If coffee and tea sell for the same price, Jack will Group of answer choicesa. spend all $30 on tea.

b. spend all $30 on coffee.

c. spend $20 on coffee and $10 on tea.

d. be indifferent between any bundle of coffee and tea costing $30.

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Jack has allocated $30 toward coffee and tea and feels that coffee and tea are perfect substitutes....