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Bob's budget constraint is 75 = 10X + 4Y. X and Y can be purchased in fractions of a unit. With good Y on the
Bob's budget constraint is 75 = 10X + 4Y. X and Y can be purchased in fractions of a unit. With good Y on the vertical axis, what is the MRSXY at the utility-maximizing point (assume the utility-maximizing point is an interior solution)
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Macroeconomics Canada in the Global Environment
Authors: Michael Parkin, Robin Bade
8th edition
321778103, 978-0321808370, 321808371, 978-0321778109
