Natasha's utility function is U(C,F) = C1/3x F, where C stands for concert tickets and F stands
Question:
MUC = F / 3C2/3
MUF = C1/3.
Her income is $300 per month, a concert ticket costs $15, and a film ticket costs $10. What is the formula for Natasha's MRSCF? Does it have the declining MRS property? How many film tickets will she purchase, and how many concert tickets?
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Natashas formula is MRS CF F3C It does have the declining MRS property N...View the full answer
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