Tasha and Assad manage competing car washes located across the street from one another. They are both deciding whether to charge $5, $10, or $14 for their basic wash. Below are the profits associated with each choice:If Assad chooses to charge $10, then Tasha will choose to charge and make in profit. $15 ; $475$5 ; $425$10 ; $455$5 ; $380$15 ; $480

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.