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Given the following utility function: U = 100x0.25 0.50 and marginal rate of substitution: 0.25Y MRS = - 0.50X A consumer facing the following prices:
Given the following utility function: U = 100x0.25 0.50 and marginal rate of substitution: 0.25Y MRS = - 0.50X A consumer facing the following prices: P = $2, P =$1 chooses to consume: 12 units of good X and 20 units of good Y. Given this consumption bundle, the marginal rate of substitution is equal to - (Round your answer to two decimal places. Note that the minus sign is already included.). Given this value, the consumer should consume in order to maximize his/her utility
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