Suppose that for Mali, the marginal utility of a steak sandwich is 40 utils, and the marginal utility of a chicken parmesan sandwich is 30 utils. The price of steak sandwich is $6.00. The price of a chicken parmesan sandwich is $4.50. What can you conclude from this information?
a. Mali will be more inclined to purchase a steak sandwich.
b. Mali will be more inclined to purchase a chicken parmesan sandwich.
c. Mali is in consumer equilibrium regarding steak and chicken parmesan sandwiches.
d. Mali cannot rationally decide which sandwich to buy.
c. Mali is in consumer equilibrium regarding steak and chicken parmesan sandwiches.
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