A consumer buys only two goods, X and Y. a. If the MRS between X and Y

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A consumer buys only two goods, X and Y.
a. If the MRS between X and Y is 2 and the marginal utility of X is 20, what is the marginal utility of Y?

b. If the MRS between X and Y is 3 and the marginal utility of Y is 3, what is the marginal utility of X?
c. If a consumer moves downward along an indifference curve, what happens to the marginal utilities of X and Y? What happens to the MRS?

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Managerial Economics Foundations of Business Analysis and Strategy

ISBN: 978-0078021909

12th edition

Authors: Christopher Thomas, S. Charles Maurice

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Question Posted: Feb 24, 2020 06:49 AM

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A consumer buys only two goods, X and Y. a. If the MRS between X and Y

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a If the MRS between X and Y is 2 and the marginal utility of X is 20 what is the marginal utility o...View the full answer

Managerial Economics Foundations of Business Analysis and Strategy

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