Figure 3-1 Shows the Preferences of a Consumer Toward Reading

question 8

Multiple Choice

Figure 3-1 shows the preferences of a consumer toward reading books and watching movies.
-Refer to Figure 3-1.Given that the price of a book is $4 and a movie ticket costs $5,the consumer's marginal rate of substitution in equilibrium equals _____.

• A)1
• B)5/4
• C)4/5
• D)Cannot be determined without more information

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Definitions:

Atheism

The absence or lack of belief in the existence of deities or gods.

Agnosticism

The belief that the existence or non-existence of deities or other spiritual phenomena is unknown or unknowable.

Religious Service Attendance

the act of participating in gatherings or ceremonies organized by a religious institution, often reflecting personal faith or communal worship practices.

Secularization

is the process by which religious institutions, practices, and beliefs lose their social significance.