News0 min ago
Marginal rate of substitution?
2 Answers
Adam consumes two goods x and y which cost £4 and £2 respectively.
Adams budget is £100. When Adams utility is maximised his marginal rate of substitution between y and x is.
1) 2
2) 0.5.
3)1.
4) 0
Any ideas and explanation would be good???
Thanks :)
Adams budget is £100. When Adams utility is maximised his marginal rate of substitution between y and x is.
1) 2
2) 0.5.
3)1.
4) 0
Any ideas and explanation would be good???
Thanks :)
Answers
Best Answer
No best answer has yet been selected by Pixelchic. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.