Consider the following utility function: U= 100x0.50,0.50 A consumer faces prices of P, = $2 and P, =$1. Assuming that graphically good X is on the horizontal axis and good Y is on the vertical axis,...


Consider the following utility function:<br>U= 100x0.50,0.50<br>A consumer faces prices of P, = $2 and P, =$1.<br>Assuming that graphically good X is on the horizontal axis and good Y is on the vertical axis, suppose the consumer chooses to consume 6 units of good X and 11<br>units of good Y. Then the marginal rate of substitution is equal to:<br>MRS = 1.83. (Enter your response rounded to two decimal places. Do not forget to include the negative sign.)<br>Use absolute values.<br>The consumer should consume<br>to maximize utility.<br>more Y and less X<br>the same amount of X and Y<br>more X and less Y<br>O étv<br>MacBook Air<br>80<br>esc<br>F1<br>F2<br>F3<br>F4<br>F5<br>F6<br>F7<br>F8<br>#<br>$<br>%<br>&<br>1<br>2<br>7<br>Q<br>W<br>E<br>T<br>Y<br>tab<br>S<br>D<br>F<br>G<br>caps lock<br>C<br>V<br>M<br>ft<br>control<br>option<br>command<br>つ<br>つ<br>エ<br>B<br>N<br>

Extracted text: Consider the following utility function: U= 100x0.50,0.50 A consumer faces prices of P, = $2 and P, =$1. Assuming that graphically good X is on the horizontal axis and good Y is on the vertical axis, suppose the consumer chooses to consume 6 units of good X and 11 units of good Y. Then the marginal rate of substitution is equal to: MRS = 1.83. (Enter your response rounded to two decimal places. Do not forget to include the negative sign.) Use absolute values. The consumer should consume to maximize utility. more Y and less X the same amount of X and Y more X and less Y O étv MacBook Air 80 esc F1 F2 F3 F4 F5 F6 F7 F8 # $ % & 1 2 7 Q W E T Y tab S D F G caps lock C V M ft control option command つ つ エ B N

Jun 11, 2022
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