If there is a simultaneous decrease in the demand for toys and an increase in the supply of toys, what would we expect to happen to the price of the toys?

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Acrosswalk_when there are no pavement markings.

Define the marginal rate of substitution between two goods (x and y). if a consumer’s preferences are given by u(x,y) = x3/4y1/4, compute the consumer’s marginal rate of substitution as a function of x and y. calculate the mrs if the consumer has chosen to consumer 48 units of x and 16 units of y. show your work. (use the back of the page if necessary.