Making your own decisions in a market economy also benefits the producers who make products because they from your purchases.

Agood for which demand increases as income rises is and a good for which demand increases as income falls is

Define the marginal rate of substitution between two goods (x and y). if a consumer’s preferences are given by u(x, y) = x3/4y1/4, compute the consumer’s marginal rate of substitution as a function of x and y. calculate the mrs if the consumer has chosen to consumer 48 units of x and 16 units of y. show your work. (use the back of the page if necessary.

In macroeconomics, to study the aggregate means to study blank