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Satsume Satsume
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6 years ago
John consumes two goods, X and Y.  The marginal utility of X and the marginal utility of Y satisfy the following equations:
   MUX = Y      MUY = X.         
The price of X is $9, and the price of Y is $12.

a.   Write an expression for John's MRS.
b.   What is the optimal mix between X and Y in John's market basket?
c.   John is currently consuming 15 X and 10 Y per time period. 
   Is he consuming an optimal mix of X and Y?
Textbook 
Microeconomics

Microeconomics


Edition: 8th
Author:
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boransalboransal
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6 years ago
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