A consumer buys only two goods, X and Y. a. If the MRS between X and...
A consumer buys only two goods, X and Y.
a. If the MRS between X and Y is 4 and the marginal utility of X is 20, what is the marginal utility of Y?
b. If the MRS between X and Y is 3 and the marginal utility of Y is 6, what is the marginal utility of X?
c. If a consumer moves downward along an indifference curve, what happens to the marginal utilities of X and Y? What happens to MRS?
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A consumer buys only two goods, X and Y.
a. If the MRS between X and...
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