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1. Maria's preferences can be represented by the following utility function U 2ln (x) + 3ln (y). a. Calculate the marginal rate of substitution

1. Maria's preferences can be represented by the following utility function U 2ln (x) + 3ln (y). a. Calculate the marginal rate of substitution (5 points). b. Do Maria's preferences satisfy the assumption of nonsatiation? Explain why, or why not (5 points). c. Calculate Maria's price elasticity of demand for good x (5 points)? =

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