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Nancy's Ratio of Marginal Utility for Coffee and Lipstick Is

Question 108

Multiple Choice

Nancy's ratio of marginal utility for coffee and lipstick is 3:1, while the price ratio of coffee to lipstick is 1.5:1. Which of the following statements is (are) TRUE? Nancy's ratio of marginal utility for coffee and lipstick is 3:1, while the price ratio of coffee to lipstick is 1.5:1. Which of the following statements is (are) TRUE? A) IV only B) I and II C) I and III D) III only


A) IV only
B) I and II
C) I and III
D) III only

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