In a small economy that produces smart phones and laptops, the marginal cost of a smart phone
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In a small economy that produces smart phones and laptops, the marginal cost of a smart phone is $60 and the marginal cost of a laptop is $150. Assuming the economy is achieving output efficiency, the marginal rate of substitution of smart phones to laptops is ____.
Related Book For
Managerial Economics Theory Applications and Cases
ISBN: 978-0393912777
8th edition
Authors: Bruce Allen, Keith Weigelt, Neil A. Doherty, Edwin Mansfield
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