Essay
Peter's utility function is U = 5X + 2Y. What is Peter's marginal utility of good X and good Y? Interpret your answer.
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MUX = 5. Peter's utility increases by 5 u...View Answer
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Correct Answer:
Verified
MUX = 5. Peter's utility increases by 5 u...
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
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