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Suppose Joe's utility for lobster (L) and soda (S) can be represented as U= L 0.5 S0.5. Draw the indifference curve that yields a utility level of 9. find out the MUL, MUS, and MRS of L for S on that indifference curve when S=3.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M946809

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