What is the marginal rate of substitution

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Suppose that two units of X and eight units of Y give a consumer the same utility as four units of X and two units of Y. Over this range:

a. If the consumer obtains one more unit of X, how many units of Y must be given up in order to keep utility constant?

b. If the consumer obtains one more unit of Y, how many units of X must be given up in order to keep utility constant?

c. What is the marginal rate of substitution?

Reference no: EM131007833

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