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M Use the information and diagram below to answer question 2 (parts i and ii). Consider a consumer who maximizes utility over medical care brudget

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M Use the information and diagram below to answer question 2 (parts i and ii). Consider a consumer who maximizes utility over medical care brudget (M) and a composite good (X), subject to a budget constraint. Assume the consumer has income of $200, the price of a unit of medical care is $2.50, and the price of a unit of the composite UM.X) good is $3.00. Mathematically, the consumer's problem is constraint indifference curve for max U (M.X) s.t. $2.50(M)+$3.00(X) = $200 X 2. (i) What is the value of M at point a? (ii) What is the value of the marginal rate of substitution of M for X (MRS) at point b

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