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Natasha s utility function is U where C stands for concert tickets and F stands for film tickets For this utility function marginal utilities with respect to C and F are

Natasha s utility function is U(C,F) = C1/3x F, where C stands for concert tickets and F stands for film tickets. For this utility function, marginal utilities with respect to C and F are MUC = F / 3C2/3 MUF = C1/3. Her income is $300 per month, a concert ticket costs $15, and a film ticket costs $10. What is the formula for Natasha s MRSCF? Does it have the declining MRS property? How many film tickets will she purchase, and how many concert tickets?

Apr 03 2020 View more View Less

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