a. If Rashid chooses 3 books and 2 CDs, what is his marginal rate of substitution? b.

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a. If Rashid chooses 3 books and 2 CDs, what is his marginal rate of substitution?
b. If Rashid chooses 2 books and 6 CDs, what is his marginal rate of substitution?
Rashid buys only books and CDs and Figure 9.12 shows his preference map.

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Microeconomics

ISBN: 978-0133019940

11th edition

Authors: Michael Parkin

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Question Posted: Dec 15, 2015 07:11 AM

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a. If Rashid chooses 3 books and 2 CDs, what is his marginal rate of substitution? b.

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4 012345-6 7-8-0-1 CDs

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a Rashids marginal rate of substitution is 1 book per CD ...View the full answer

Microeconomics

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