Multiple Choice
Your marginal utility of a third waffle is 10 and your marginal utility of a second piece of ham is 30.If you eat the third waffle, which of the following must be true?
A) You are irrational.
B) You prefer waffles.
C) The price of a waffle is less than one third the price of a piece of ham.
D) The price of a waffle is more than the price of a piece of ham.
E) The price of a waffle is three times the price of a piece of ham.
Correct Answer:
Verified
Correct Answer:
Verified
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