=+4. Jennifer and Drew consume orange juice and coffee. Jennifers MRS of orange juice for coffee is
Question:
=+4. Jennifer and Drew consume orange juice and coffee.
Jennifer’s MRS of orange juice for coffee is 1 and Drew’s MRS of orange juice for coffee is 3. If the price of orange juice is $2 and the price of coffee is $3, which market is in excess demand? What do you expect to happen to the prices of the two goods?
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Related Book For 
Microeconomics
ISBN: 9781292081977
8th Global Edition
Authors: Robert S. Pindyck, Daniel L. Rubinfeld
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