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Lewis uses his income to purchase bones (q1) and kibble (q2). His preferences are given by the utility function: U(q1,q2) = q1 # q2 Suppose
Lewis uses his income to purchase bones (q1) and kibble (q2). His preferences are given by the utility function: U(q1,q2) = q1 # q2 Suppose the price of bones is p, = 30 and the price of kibble is p, = 10. His income is y= 1200. What bundle of goods does he consume? O A. q1 = 15 q2 = 100 O B. q1 = 10 q2 = 90 O C. q1 = 13 92 = 80 O D. q1 = 45 92 = 30 Find the MRS equation for Lewis
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