Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Question 9
Patrick's preferences can be represented by U- 4X Y. Compute the slope of his indifference curve
when X- 10, Y- 8.
Question 10
What is the Marginal Rate of Substitution for X with Y, given U 3XY 4?
O 2Y/X
O Since the utility function is not a Cobb-Douglas, we cannot find the MR
O 6Y/X
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