1. Suppose that the marginal utility of good X and good Y is given by the following equations:
MUX = 1/(X + 10) MUY = 1/Y
a) As more units of good X are consumed, what happens to utility and marginal utility of good X?
1 point
What is MRSXY?
1. Suppose that the marginal utility of good X and good Y is given by the following equations:
MUX = 1/(X + 10) MUY = 1/Y
a) As more units of good X are consumed, what happens to utility and marginal utility of good X?
1 point
What is MRSXY?
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