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Business, 13.03.2020 22:44 gabistock21

Consider the following utility function: U(x, y) = 10x + 2y. A consumer faces prices of px = 1 and py = 2. Assuming that graphically good x is on the horizontal axis and good y is on the vertical axis, suppose the consumer chooses to consume 5 units of good x and 13 units of good y. What is the marginal rate of substitution (MRS) equal to?

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Consider the following utility function: U(x, y) = 10x + 2y. A consumer faces prices of px = 1 and p...
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