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Economics 11th Edition by William McEachern
Edition 11ISBN: 978-1305505469Economics 11th Edition by William McEachern
Edition 11ISBN: 978-1305505469 Exercise 14
UTILITY-MAXIMIZING CONDITIONS Suppose that marginal utility of Good X = 100, the price of X is $10 per unit, and the price of Y is $5 per unit. Assuming that the consumer is in equilibrium and is consuming both X and Y , what must the marginal utility of Y be?
Explanation
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Assumption:
Consumer is in equilibrium ...
Economics 11th Edition by William McEachern
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