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The budget allocation rule states that a) the marginal utility of-(Answered)

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The budget allocation rule states that

a) the marginal utility of x equals the marginal utility of y at maximum utility.

b) the marginal utility of x divided by its price be equal to marginal utility of all other goods

divided by their prices.

c) the marginal utility of x equals the marginal rate of substitution of x for y.

d) the ratio of prices of x to y be greater than the ratio of marginal utility of x to the marginal utility

of y.

e) none of the above

 

Paper#9209097 | Written in 27-Jul-2016

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