Solved

Jennifer Consumes Both Apples and Bread

Question 121

Multiple Choice

Jennifer consumes both apples and bread. Let Pa be the price of an apple and Pb the price of a loaf of bread. TUa is her total utility from apples and TUb is her total utility from bread. MUa is her marginal utility from apples and MUb is her marginal utility from bread. When Jennifer is in consumer equilibrium


A) MUa/TUa = MUb/TUb.
B) MUa/Pb = MUb/Pa.
C) MUa/Pa = MUb/Pb.
D) TUa/Pb = TUb/Pb.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents