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The following table represents Sue"s preferences for bottled water and soft drinks, the com
The following table represents Sue's preferences for bottled water and soft drinks, the combination of which yields the same level of utility.
Combination
Bottled
Soft
of Bottled Water
Water
Drinks
and Soft Drinks
per Month
A
5
11
B
10
7
C
15
4
D
20
2
E
25
1
Calculate Sue's marginal rate of substitution of soft drinks for bottled water at each rate of consumption of water (or soft drinks). Relate the marginal rate of substitution to marginal utility
Be sure to use the long run industry standards in your essay.
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