Bob views apples and oranges as perfect substitutes in his, Ask an Expert

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Bob views apples and oranges as perfect substitutes in his consumption, and MRS = 1 for all combinations of the two goods in his indifference map. Suppose the price of apples is $2 per pound, the price of oranges is $3 per pound, and Bob's budget is $30 per week. What is Bob's utility maximizing choice between these two goods?

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Business Economics, Economics

Category:- Business Economics
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