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John consumes two goods, X and Y. The marginal utility of X and the marginal utility of Y satisfy ...

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John consumes two goods, X and Y. The marginal utility of X and the marginal utility of Y satisfy ...

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

Edition: 8^th

Author: Pindyck

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