If the Utility Function (U)between Bananas (B)and Jam (J)can Be

question 9

Multiple Choice

If the utility function (U) between bananas (B) and jam (J) can be represented as U(B,J) = 3ln(B) +4ln(J) ,what is the marginal rate of substitution (MRS) between bananas and jam?

• A) 4B.
• B) -3J/(4B).
• C) 4/(3J).
• D) 3B/J.

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Definitions:

Situational

Relating to or dependent upon a particular set of circumstances or context.

Altruistically

Acting with an unselfish concern for the welfare of others.

Entrapped

The condition of being caught or trapped, either physically in a confined space or metaphorically in a situation.

Conversational Distance

The physical space between individuals during a conversation, which can affect communication and social interaction.