Suppose That Utility-Maximizing Consumers in San Francisco Pay Three Times

question 5

Multiple Choice

Suppose that utility-maximizing consumers in San Francisco pay three times as much for apples as for peaches.What is the ratio of the marginal utility of apples to the marginal utility of peaches?

• A)1/3
• B)2/3
• C)3
• D)none of the above
• E)cannot determine without further information

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Definitions:

Dietary Needs

Specific nutritional requirements or restrictions for an individual, often based on health, ethical, or religious reasons.

Chronic Disease

A long-term health condition that is persistent and typically requires ongoing medical attention or limits activities of daily living.

Chronic Stress

Persistent stress that continues over an extended period of time, leading to significant psychological and physical health issues.

Osteoarthritis

A degenerative joint disease characterized by the breakdown of cartilage and underlying bone, leading to pain and stiffness, especially in the hips, knees, and thumbs.