Given the indifference curve shown to the right K a. What is the marginal rate of substitution as you move from point G to point B?- (enter your answer as a fraction and note that the minus sign has been added)

Given the indifference curve shown to the right K a. What is the marginal rate of substitution as you move from point G to point B?- (enter your answer as a fraction and note that the minus sign has been added)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

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Given the indifference curve shown to the right
K
a. What is the marginal rate of substitution as you move from point G to point B?- (enter your answer as a fraction and note that the
minus sign has been added)

Books (per year)
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8-
7-
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2-
1
to
C (20,7)
E (27, 6)
F (36,5)
G (47,4)
B (60, 3)
10 20 30 40 50 60 70 80
Audio CDs (per year)
IC
90 100
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Q
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