14.4. Food and clothing. The optimal mix between consumption of food and consumption of clothing is given by MRS = pc/pf. Explain the meaning of MRS in this context. Explain the economic intuition for the equality MRS = Pc/ Pf.
14.4. Food and clothing. The optimal mix between consumption of food and consumption of clothing is given by MRS = pc/pf. Explain the meaning of MRS in this context. Explain the economic intuition for the equality MRS = Pc/ Pf.
Chapter1: Making Economics Decisions
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explain this for me. i am not sure
![14.4. Food and clothing. The optimal mix between consumption of
food and consumption of clothing is given by MRS = Pc/pf. Explain
the meaning of MRS in this context. Explain the economic intuition
for the equality MRS = pc/ Pf.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F29484458-c49a-4784-8582-6da2b7d9fbab%2Fd5082d67-a1ec-406d-88ee-966594ac0def%2Forajr8l_processed.jpeg&w=3840&q=75)
Transcribed Image Text:14.4. Food and clothing. The optimal mix between consumption of
food and consumption of clothing is given by MRS = Pc/pf. Explain
the meaning of MRS in this context. Explain the economic intuition
for the equality MRS = pc/ Pf.
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