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Suppose U(x,y)=5x^4 y^6. Solve for the marginal utility of good x and the marginal utility of good y. Is x a good or a bad?
Suppose U(x,y)=5x^4 y^6. Solve for the marginal utility of good x and the marginal utility of good y. Is x a good or a bad? Is y a good or a bad? Explain why.
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Principles Of Macroeconomics
Authors: N Gregory Mankiw
7th Edition
1285165918, 9781285165912
