Business, 16.07.2021 01:00 therronvictorjr
Suppose the price of Good X is $4 and the price of Good Y is $3. If a consumer has a Marginal Rate of Substitution (MRSxy) of 2 for the bundle they are considering, then given their budget constraint, the consumer:___.
a. Cannot reach a higher level of utility given their budget constraint.
b. Would have a higher utility if they bought more of Good X.
c. Would have a higher utility if they bought less of Good X.
Answers: 2
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Put each of them in order. you are a young entrepreneur with a startup business. you now seek credit from the bank to expand it. what are the steps you will have to take? 1. you support your loan application with relevant documents. 2. you fill out the loan application form at the bank 3. you get an approval for the loan and the money is disbursed to your business account 4. you use the credit to further your business plan. 5. you have an interview with the loan officer and you explain your business plan.
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Suppose the price of Good X is $4 and the price of Good Y is $3. If a consumer has a Marginal Rate o...
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