Question: Isabelle's has preferences represented by the Cobb Douglas utility function U(x1,x2)=x12 X2 with MRS = X1 She is currently consuming X1 3, X2 12.
Isabelle's has preferences represented by the Cobb Douglas utility function U(x1,x2)=x12 X2 with MRS = X1 She is currently consuming X1 3, X2 12. How many units of X2 will she be willing to give up for an additional unit of X 1 so that she stays at the same level of utility. Write your answer in numeric. Do not use units/special characters.
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MRS function x xxx X xB JC212 3 x 12 3 When you simplify the function it ... View full answer
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