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John lives on retirement pension, fixed in size, and can buy 9 units of good X if he spends all his monthly income on good
John lives on retirement pension, fixed in size, and can buy 9 units of good X if he spends all his monthly income on good X. On the other hand, if he spends all his income on good Y, he can buy 8 units of good Y. Provide a diagram that depicts John's consumer's equilibrium, such that John chooses to buy 5 units of good X. Measure quantities of good X along horizontal axis. In his consumer's equilibrium, what is John's MRS of good X for good Y
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