An annuity due can use the ordinary annuity formula if the ordinary annuity formula is adjusted: Multiple Choice Add one payment to total value Multiply results by 1 i Add two payments to total value Subtract three payments from total value

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.