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Please answer the following multiple choice question (question attached as .jpg): John has the utility function L.I(Y X) 2) (X What is John's Marginal Rate
Please answer the following multiple choice question (question attached as .jpg):
John has the utility function L.I(Y X) 2) (X What is John's Marginal Rate of Substitution? 3). He also has income m and faces prices Py and Px for goods Y and X respectively. x 3 3 2
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Economics Principles and Policy
Authors: William Baumol, Alan Blinder
13th edition
1305280595, 1305280598, 9781305465626 , 978-1305280595
