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Business, 03.07.2021 04:50 deduran

Pencils sell for 10 cents and pens sell for 50 cents. Suppose Jae, whose preferences satisfy all of the basic assumptions, is currently spending all his income on both goods. The marginal rate of substitution for pens to pencils is 5. In order to achieve optimum, what should he do

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Pencils sell for 10 cents and pens sell for 50 cents. Suppose Jae, whose preferences satisfy all of...

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