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Hi, I'm struggling to answer this question can u help please? If a consumer's income doubles, the marginal rate of substitution computed at any given
Hi, I'm struggling to answer this question can u help please?
If a consumer's income doubles, the marginal rate of substitution computedat any given consumptionplanx
a) Decrease in absolute value
b) doubles
c) Remains unchanged
d) Increases only if the consumption plan x was the optimal one at the old income level
e) Remains unchanged only if also all prices double
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