Question: 04 Question (2 points) e See page 606 V 1st attempt See Hint Marcus and Florence consume two goods, tea (T') and cookies (C), in

 04 Question (2 points) e See page 606 V 1st attempt

See Hint Marcus and Florence consume two goods, tea (T') and cookies

04 Question (2 points) e See page 606 V 1st attempt See Hint Marcus and Florence consume two goods, tea (T') and cookies (C), in a pure exchange economy. Florence's utility function is given by UF (T, C) = T X C, which implies that her marginal rate of substitution is MRS = -. Suppose that Florence is currently consuming 4 cups of tea and 12 cookies and that the economy is at a Pareto efficient point. From this information we know that Marcus's marginal rate of substitution must be . (Be sure to include the correct sign.)

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