The Marginal Utility of the Last Unit of Apples Consumed

question 183

Multiple Choice

The marginal utility of the last unit of apples consumed is 12, and the marginal utility of the last unit of bananas consumed is 8. What set of prices for apples and bananas, respectively, would be consistent with consumer equilibrium?

• A)$4 and $6
• B)$6 and $4
• C)$8 and $12
• D)$16 and $9

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Definitions:

Dividends Payable

This refers to the amount of declared dividends owed by a company to its shareholders but has not yet been paid out.

Stockholders

Individuals or entities that own shares in a corporation, giving them a partial ownership interest in the company.

Accumulated Depreciation

is the total amount of depreciation expense that has been recorded for a fixed asset since it was put into use.

Statement of Cash Flows

A financial statement that provides aggregate data regarding all cash inflows and outflows a company receives from its ongoing operations, investment, and financial activities.