Figure 21-18 -Refer to Figure 21-18.Assume That the Consumer Depicted in the Consumer

question 322

Multiple Choice

Figure 21-18

-Refer to Figure 21-18.Assume that the consumer depicted in the figure has an income of $50.The price of Skittles is $5 and the price of M&M's is $5.This consumer will choose a consumption bundle where the marginal rate of substitution is

• A) 10.
• B) 5.
• C) 1.
• D) 1/5.

---

Definitions:

Cumulative Share

The total percentage or portion of some quantity or number that is accumulated from a series of parts or contributions.

Income

The financial gain received by an individual or entity, often measured as salary, wages, or profits.

Perfect Equality Line

A hypothetical line on a graph representing a situation where everyone has exactly the same income or wealth, demonstrating absolute equality.

Points

In various contexts, points can refer to units of measurement, aspects of discussion, or rewards accumulated from transactions.