If the Utility Function (U)between Food (F)and Clothing (C)can Be

question 46

Multiple Choice

If the utility function (U) between food (F) and clothing (C) can be represented as U = ,the marginal rate of substitution of clothing for food equals

• A) -C/F.
• B) -F/C.
• C) -
• D) -

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Definitions:

Consumer Incomes

The total earnings received by consumers, including wages, salaries, benefits, and other income sources, which affect their purchasing power.

Farm Income

The earnings from agricultural operations, including the sale of crops, livestock, and other farm-related sources.

Farm Household

A living arrangement where families live and work primarily on a farm producing agricultural goods.

Demand For Agricultural Products

The consumer need or desire for products originating from farming and agriculture.