Business, 14.06.2021 15:20 hannahgrace325
The absolute value of Mar's MRS at his current consumption bundle is greater than 3. (That is, MU1/MU2 > 3). Mars has convex preferences and is currently consuming positive amounts of both goods.
A. Giving Mars some of good 1 and taking away 3 units of good 2 for each unit of good 1 he is given will necessarily make him worse off.
B. Taking away some of good 1 and giving Mars 3 units of good 2 for each unit of good 1 taken away will necessarily make him better off.
C. Taking away some of good 1 and giving Mars 3 units of good 2 for each unit of good 1 taken away will necessarily make him worse off.
D. Giving Mars some of good 1 and taking away 3 units of good 2 for each unit of good 1 he is given will necessarily make him better off.
Answers: 3
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The absolute value of Mar's MRS at his current consumption bundle is greater than 3. (That is, MU1/M...
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