Cashews are sold in either 8-ounce (C₈) or 16-ounce (C₁₆) cans.
a. Write an equation that represents a person's utility function for C₈ and C₁₆.
b. What is the MRS? (Assume that 16-ounce cans are measured on the y-axis and 8-ounce cans are measured on the x-axis.)

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The Answer of Cashews are sold in either 8-ounce (C₈) or 16-ounce (C₁₆) cans. a. Write an equation that represents a person's utility function for C₈ and C₁₆. b. What is the MRS? (Assume that 16-ounce cans are measured on the y-axis and 8-ounce cans are measured on the x-axis.)

Cashews Are Sold in Either 8-Ounce (C8) or 16-Ounce (C16)

Cashews Are Sold in Either 8-Ounce (C₈) or 16-Ounce (C₁₆)