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Intermediate Microeconomics and Its Application 12th Edition by Walter Nicholson,Christopher Snyder
Edition 12ISBN: 978-1133189022Intermediate Microeconomics and Its Application 12th Edition by Walter Nicholson,Christopher Snyder
Edition 12ISBN: 978-1133189022 Exercise 7
Inez reports that an extra banana would increase her utility by two units and an extra pear would increase her utility by six units. What is her MRS of bananas for pears-that is, how many bananas would she voluntarily give up to get an extra pear? Would Philip (who reports that an extra banana yields 100 units of utility whereas an extra pear yields 400 units of utility) be willing to trade a pear to Inez at her voluntary MRS?
Explanation
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The rate at which Inez and Philip are wi...
Intermediate Microeconomics and Its Application 12th Edition by Walter Nicholson,Christopher Snyder
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