Frieda Enjoys Cooking and Baking

question 40

Multiple Choice

Frieda enjoys cooking and baking.Her utility function is U(C,B) = 6C + 3B,where C is the number of hours she spends cooking and B is the hours she spends baking.What is Frieda's MU of cooking?

• A) 1/6
• B) 2
• C) 6
• D) Cannot be determined from the given information

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Definitions:

Market Economy

An economic system in which supply and demand from consumers direct the production of goods and services.

Market System

An economic system based on supply and demand where prices are determined in a free price system.

Consumer Sovereignty

The theory that consumers' preferences determine the production and sale of goods and services in a market.

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