Question
Paul's utility function is u=x0.51x0.82u=x10.5x20.8. If x1x1 is plotted on the horizontal axis and x2x2 on the vertical axis, the marginal rate of substitution for
Paul's utility function is u=x0.51x0.82u=x10.5x20.8. If x1x1 is plotted on the horizontal axis and x2x2 on the vertical axis, the marginal rate of substitution for his utility functionis __________.
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Macroeconomics Principles Applications and Tools
Authors: Arthur O'Sullivan, Steven Sheffrin, Stephen Perez
9th edition
978-0134089027, 134089022, 978-0134420684
