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INFORMATION
utility function is U(X,Y) = 3X1/2 Y1/2
bundle A consists of 10 units of X and 10 units of Y,
bundle B consists of 20 units of X and 5 units of Y.

PROBLEM
graph bundle "A" indifference curve
graph bundle "B" indifference curve
Compute MRSxy at consumption bundle A.
Compute MRSxy at consumption bundle B.

Provide a couple sentences about bundle A and B's indifferent curves and MRS's

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M91221953
  • Price:- $20

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