A consumer consumes only two goods X and Y and prices of Goods X and Y are Rs 4 and Rs 2 respectively. What will be the MRS_(XY) when consumer is in equilibrium ?

A consumer consumes only two goods X and Y and prices of Goods X and Y

1.	A consumer consumes only two goods X and Y and prices of Goods X and Y are Rs 4 and Rs 2 respectively. What will be the MRS_(XY) when consumer is in equilibrium ?
Answer» SOLUTION :When the consumer is in equilibrium, `MRS_(XY) = P_(X)//P_(y)` substituting `P_(x) = 4 " and " P_(y) = 2, MRS_(xy) = 4//2 = 2`