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19 Jul 2019
Jennifer and Drew consume orange juice and coffee. Jenniferâs MRS of orange juice for coffee is 1 and Drewâs MRS of orange juice for coffee is 3. If the price of orange juice is $2 and the price of coffee is $3, which market is in excess demand? What do you expect to happen to the prices of the two goods?
Jennifer and Drew consume orange juice and coffee. Jenniferâs MRS of orange juice for coffee is 1 and Drewâs MRS of orange juice for coffee is 3. If the price of orange juice is $2 and the price of coffee is $3, which market is in excess demand? What do you expect to happen to the prices of the two goods?
1
answer
1
watching
446
views
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Trinidad TremblayLv2
19 Jul 2019