Post Utme Unilag 2020 Economics Question 37
Practice objective / multiple choice question 37 from the 2020 Post Utme Unilag Economics examination.
A consumer's utility function is given by U = 2x^0.5y^0.5. If the consumer's budget constraint is 100 = 2x + 3y, and the consumer is currently consuming x = 4 and y = 12, what is the marginal rate of substitution (MRS) between x and y?
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About This Question
This is Post Utme Unilag 2020 Economics Question 37. It is one of the objective questions from the 2020 Post Utme Unilag Economics examination.
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