Business, 14.02.2020 01:44 Arealbot

Consumers in Georgia pay twice as much for avocados as they do for peaches. However, avocados and peaches are equally priced in California. If consumers in both states maximize utility, will the marginal rate of substitution of peaches for avocados be the same for consumers in both states? If not, which will be higher?

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Consumers in Georgia pay twice as much for avocados as they do for peaches. However, avocados and pe...

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