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Prove that when all markets in simple economy are perfectly competitive, the following hold: (a) MRTSLK x MRTSLK y ( ) ( ) , (b)

Prove that when all markets in simple economy are perfectly competitive, the following hold: (a) MRTSLK x MRTSLK y ( ) ( ) , (b) MRSxy A (( ) =( MRSxy B ( ) , (c) ( MRSxy A MRSxy B MRTxy

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