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Social Science Clinic => Economics => Microeconomics => Topic started by: segrsyd on Jun 18, 2019

Title: Individuals derive utility from picnics, p, and kayak trips, k. Assuming that an individual's ...
Post by: segrsyd on Jun 18, 2019
Individuals derive utility from picnics, p, and kayak trips, k. Assuming that an individual's utility is and income is $100, what is the marginal rate of substitution (MRS) between picnics and kayak trips?
◦ MRS = -1.
◦ MRS = -
◦ MRS = 1.
◦ There is no substitution because picnics and kayak trips are perfect complements.
Title: Individuals derive utility from picnics, p, and kayak trips, k. Assuming that an individual's ...
Post by: Harbringer on Jun 18, 2019
MRS = -1.
Title: Individuals derive utility from picnics, p, and kayak trips, k. Assuming that an individual's ...
Post by: segrsyd on Jun 18, 2019
Excellent
Title: Individuals derive utility from picnics, p, and kayak trips, k. Assuming that an individual's ...
Post by: Harbringer on Jun 18, 2019
Great! Please up vote :D
Title: Re: Individuals derive utility from picnics, p, and kayak trips, k. Assuming that an individual's ..
Post by: Max Jason on Oct 17, 2020
thank you
Title: Re: Individuals derive utility from picnics, p, and kayak trips, k. Assuming that an individual's ..
Post by: Jiaxin Lu on Apr 5, 2022
thank you