Question
Sophie's utility function is U(x,y) = (x+2)(Y+3) If her marginal rate of substitution is -2 and she is consuming 12 units of good x, how
Sophie's utility function is U(x,y) = (x+2)(Y+3)
If her marginal rate of substitution is -2 and she is consuming 12 units of good x, how many units of good y must she be consuming?
A. 24 < y
B. 20 < y 24
C. 16 < y 20
D 12 < y 16
E. y 12
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Managerial Economics A Problem-Solving Approach
Authors: Luke M. Froeb, Brain T. Mccann
2nd Edition
B00BTM8FK0
