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Suppose Good X and Good Y are perfect substitutes to each other. The marginal rate of substitution of X for Y is equal to 0.5. The price of Good X is $1 and the price of Good Y is $3. The consumer has a wealth level of 900. In the consumer's utility maximization market basket, what is the quantity of Good X? a. 150 b. 0 c 300 d. 450 d. 900
Sagot :
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