Microeconomics Quiz
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COMPETITIVE MARKETS: SUPPLY, DEMAND & WELFARE
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A consumer's utility function is given by U(X,Y)=X+2YU(X, Y) = \sqrt{X} + 2Y. This consumer's preferences are quasi-linear. How does the marginal rate of substitution of X for Y (MRSXYMRS_{XY}) change as the quantity of Y increases, holding the quantity of X constant?
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