Suppose That Utility-Maximizing Consumers in San Francisco Pay Three Times

question 5

Multiple Choice

Suppose that utility-maximizing consumers in San Francisco pay three times as much for apples as for peaches.What is the ratio of the marginal utility of apples to the marginal utility of peaches?

• A)1/3
• B)2/3
• C)3
• D)none of the above
• E)cannot determine without further information

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Definitions:

Absolute Costs

The total costs associated with the production or provision of goods or services, without consideration of relative efficiency.

Lack Of Control

A situation in which an individual or organization does not have the power to manage events, outcomes, or operations effectively.

Promotional Campaign

A coordinated series of marketing efforts to boost product awareness, sales, and engagement over a specific time period.

Lack Of Control

A situation where an individual or organization has insufficient influence or management over outcomes or operations.