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Jckie has the following utility functionud w d

Jackie has the following utility function:U(D, W) = D + 2lnW Where D = aerobics DVDs and W = pairs of walking shoes.Jackie has an income of $100, the price of an aerobics DVD (PD) = $20, and the price of a pair of walking shoes (PW) = $20.

(a) Derive the equation for the marginal rate of substitution for this utility function.

(b) Solve for Jackie's optimal consumption bundle.

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Business Management: Jckie has the following utility functionud w d

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Business Management: Jckie has the following utility functionud w d

Reference No:- TGS01608075

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