Answer this question.
If I measure my marginal utility for my 100th McDonald's hamburger to be 8, and my first Coke to be 7, then which one will I consume next?
Define: consumer equilibrium. How do price changes upset consumer equilibrium?
Define: income and substitution effects.
If I measure my marginal utility for my 100th McDonald's hamburger to be 8, and my first Coke to be 7, then which one will I consume next?
Define: consumer equilibrium. How do price changes upset consumer equilibrium?
Define: income and substitution effects.

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