Business, 18.11.2020 07:50 starlightmoon213
What happens to the demand for
products whenever the price of
a
substitute item decreases?
Answers: 1
Business, 22.06.2019 11:40, taylor825066
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.
Answers: 3
What happens to the demand for
products whenever the price of
a
substitute item decreas...
a
substitute item decreas...
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