If the Marginal Rate of Substitution of X for Y

question 61

Multiple Choice

If the marginal rate of substitution of X for Y is 2, the price of X is $3, and the price of Y is $1, a utility-maximizing consumer should

• A) be indifferent between 1X and 2Y.
• B) prefer 3Y to 1X.
• C) choose less X and more Y.
• D) choose more X and less Y.

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Definitions:

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Pain Reduction

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