Suppose that a consumer's utility function is U(x,y)= xy + 10y. The marginal utilities for this utility
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Suppose now that income is $100, I=100. Since the amount of good x can never be negative, what is the maximum value of Px for which the consumer could ever purchase ever purchase any of good x?
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MRS price ratio in equilibrium yx10 PxPy Py y Px x 1...View the full answer
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