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When Joe Maximizes Utility, He Finds That His MRS of X

Question 5

Multiple Choice

When Joe maximizes utility, he finds that his MRS of X for Y is greater than Px/Py. It is most likely that:

A) Joe's preferences are incomplete.
B) Joe's preferences are irrational.
C) Joe is not consuming good X.
D) Joe is not consuming good Y.

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