Your auto insurance policy has a $200 monthly premium and $700deductible. what is the maximum amount you will have to pay out-of-pocket for a car accident before your insurance covers your costs?

Define the marginal rate of substitution between two goods (x and y). if a consumer’s preferences are given by u(x,y) = x3/4y1/4, compute the consumer’s marginal rate of substitution as a function of x and y. calculate the mrs if the consumer has chosen to consumer 48 units of x and 16 units of y. show your work. (use the back of the page if necessary.