The mission statement of your business should contain all of the following elements except the
a. purpose of your business.
b. values of your organization.
c. business of your organization. end of exam
d. expected profit margin.

Define the marginal rate of substitution between two goods (x and y). if a consumer’s preferences are given by u(x,y) = x3/4y1/4, compute the consumer’s marginal rate of substitution as a function of x and y. calculate the mrs if the consumer has chosen to consumer 48 units of x and 16 units of y. show your work. (use the back of the page if necessary.