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OpenStudy (anonymous):
I have a question regarding marginal rate of substitution and utility. Say I have the funciton U(x,y) = 3xy. My MRS is equal to (-y/x). Now, I'm being asked if I have 8 units of x and 4 units of y, what is my utility? Is it (-1/2)? Am I just supposed to plug in 8 for y and 4 for x?
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