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How much income is spent on beer

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Reference no: EM131271489

If Lewis' Marginal rate of substitution (MRS) between beer and cheese (with beer on the vertical axis and cheese on the horiontal access) is given by: MRS=-MUc/MUb=-4B/C what will be his optimal consumption choices of beer and cheese given the original prices of Pb=$2 and Pc=$5 and income =$500? How much income is spent on beer? How much on cheese?

Reference no: EM131271489

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