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Suppose a Consumer with an Income of $100 Is Faced

Question 18

Multiple Choice

Suppose a consumer with an income of $100 is faced with Px = 1 and Py = 1/2.What is the market rate of substitution between good X (horizontal axis) and good Y (vertical axis) ?


A) 0.50
B) -1.0
C) -2.0
D) -4.0

Correct Answer:

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