Use the Figure Below to Answer the Following Questions

question 3

Multiple Choice

Use the figure below to answer the following questions.

Figure 9.2.3
-Refer to Figure 9.2.3. Rashid buys only books and albums. The figure shows his preferences. When Rashid chooses the consumption point of 3 books and 2 albums, his marginal rate of substitution is

• A)1 book per album.
• B)zero.
• C)3/2 books per album.
• D)2/3 books per album.
• E)0.5 books per album.

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Definitions:

Prototypes

Original forms or models on which something is patterned or based, often used in cognitive psychology to describe how people categorize objects and concepts.

Algorithms

Step-by-step procedures or formulas for solving problems, often used in mathematics and computer science.

Overextensions

A linguistic phenomenon in early language development whereby children use words in an overly general manner.

Mental Age

Mental age is a measure of an individual's mental aptitude based on their performance on a standardized test, compared to the average performance of others in their age group.