Annie consumes three goods out of her income, food (F) shelter (S), and clothing (C). At her
Question:
a) Do you have enough information to determine her marginal rate of substitution of food for shelter? If so, what is it? If not, why not?
b) Do you have enough information to determine her marginal utility of shelter? If so, what is it? If not, why not?
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a We do have enough information to determine MRS F S MU F MU S We are given MRS FC MU F MU C 2 an...View the full answer
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