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  • 28-05-2024
  • Business
Answered

Miriam has quasilinear preferences over consumption of coffee(x) and muffins (y). Her utility is given by U(x, y) = 5ln(x) + y. Her income is equal to m= $10, and Py = 1.
(a) Find MRS as a function of consumption of the two commodites.

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