Figure 3-1 shows the preferences of a consumer toward reading books and watching movies.Refer to Figure 3-1.Given that the price of a book is $4 and a movie ticket costs $5,the consumer's marginal rate of substitution in equilibrium equals _____.
A)1
B)5/4
C)4/5
D)Cannot be determined without more information

Question

Figure 3-1 shows the preferences of a consumer toward reading books and watching movies.Refer to Figure 3-1.Given that the price of a book is $4 and a movie ticket costs $5,the consumer's marginal rate of substitution in equilibrium equals _____. 
A)1 
B)5/4 
C)4/5 
D)Cannot be determined without more information

Quizplus · Accepted Answer

The Answer of Figure 3-1 shows the preferences of a consumer toward reading books and watching movies.Refer to Figure 3-1.Given that the price of a book is $4 and a movie ticket costs $5,the consumer's marginal rate of substitution in equilibrium equals _____. 
A)1 
B)5/4 
C)4/5 
D)Cannot be determined without more information

Figure 3-1 Shows the Preferences of a Consumer Toward Reading