Order the answer to: Annie consumes three goods out…
| Question | Annie consumes three goods out of her income, food (F) shelter (S), and clothing (C). At her current levels of consumption, her marginal rate of substitution of food for clothing is 2 and her marginal rate of substitution of clothing for shelter is 3. a) Do you have enough information to determine her marginal rate of substitution of food for shelter? If so, what is it? If not, why not? b) Do you have enough information to determine her marginal utility of shelter? If so, what is it? If not, why not? |
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| Subject | business-economics |
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