4.1 Suppose that Polish consumers pay twice as much for oranges as they pay for apples, whereas...
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4.1 Suppose that Polish consumers pay twice as much for oranges as they pay for apples, whereas Spanish consumers pay half as much for oranges as they pay for apples. Assuming that consumers maximize their utility, which country’s consumers have a higher marginal rate of substitution of oranges for apples?
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Microeconomics Theory And Applications With Calculus
ISBN: 9781292162744
4th Global Edition
Authors: Jeffrey M. Perloff
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