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Solution - Marginal Rate of Substitution (MRS)

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Question

A consumer consumes only two goods X and Y. Marginal rate of substitution is 3 and per unit prices of X and Y is Rs 4 and Rs 2 respectively. Is the consumer in equilibrium? What will be the further reaction of the consumer? Give reasons

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Solution for concept: Marginal Rate of Substitution (MRS). For the courses 12th CBSE (Arts), 12th CBSE (Commerce), 12th CBSE (Science)
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