Order the answer to: Adam consumes two goods: housing and food. a) Suppose we are

EssayParlour business-economics Order the answer to: Adam consumes two goods: housing and food. a) Suppose we are

business-economics

Order the answer to: Adam consumes two goods: housing and food. a) Suppose we are

Question Adam consumes two goods: housing and food.
a) Suppose we are given Adam’s marginal utility of housing and his marginal utility of food at the basket he currently consumes. Can we determine his marginal rate of substitution of housing for food at that basket?
b) Suppose we are given Adam’s marginal rate of substitution of housing for food at the basket he currently consumes. Can we determine his marginal utility of housing and his marginal utility of food at that basket?
Subject business-economics

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