Question: 4. An individual's marginal utilities for commodities are given by the following relations MUx= 40-5X and MUy= 20-3Y. What is his marginal rate of substitution

4. An individual's marginal utilities for commodities are given by the following relations

MUx= 40-5X and MUy= 20-3Y. What is his marginal rate of substitution in consumption at the consumption basket X=3 units, Y=5 units? If Px =Rs.5 and Py=Rs.1 is the basket consumption equilibrium? Explain.

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