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Assume that the price of Beer is $3 and the price of a Burger is $12. If a consumer is maximizing their utility spending all
Assume that the price of Beer is $3 and the price of a Burger is $12. If a consumer is maximizing their utility spending all of their income, and we put burgers on the x-axis, then the Marginal Rate of Substitution between Beer and Burgers is _____ , and the slope of the budget curve is ________ the marginal rate of substitution
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