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Unformatted text preview: If then, U= 2(10)(10)+1=201 2. Now MRS= y /x= px /py =2 /1 So y-2x = 0 And budget equation is :2x+y=20 Solve: get x=10; y=5...
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This note was uploaded on 06/29/2011 for the course ECON 206 taught by Professor Ioanadan during the Fall '10 term at University of Toronto.
- Fall '10