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Suppose a utility function represents perfect substitutes, that is, indifference curves are straight lines. Assume also that the budget constraint line is LESS STEEP than

Suppose a utility function represents perfect substitutes, that is, indifference curves are straight lines. Assume also that the budget constraint line is LESS STEEP than the indifference curves. There will be a utility-maximizing solution at: a boundary point on the vertical axis a boundary point on the horizontal axis an interior point a bundle where MRS equals the price ratio

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