Homework Answers
Answer 12
Considering X on horizontal axis and Y on vertical axis, MRS tells us the amount of Y he is willing to give in order to have 1 unit of X. Here MRS = 1/4 means that he is willing to give 1/4 units of Y in order to have 1 more unit of X in order to have same level of utility.
So, Amount of X he is willing to give in order to have 1 more unit of X is 1/(1/4) = 4 units(i.e. 1/ MRS).
Hence the correct answer is (b) 4
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