Suppose That U = U(P, M), Where P and M

question 25

Multiple Choice

Suppose that U = U(P, M) , where P and M are peanuts and marshmallows. The marginal utility of marshmallows, MU_M, is given by:

• A) P + M.
• B) P/M.
• C) ΔU(P, M)/ΔM.
• D) ΔU(P, M) × ΔM.

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