Multiple Choice
Jennifer consumes both apples and bread. Let Pa be the price of an apple and Pb the price of a loaf of bread. TUa is her total utility from apples and TUb is her total utility from bread. MUa is her marginal utility from apples and MUb is her marginal utility from bread. When Jennifer is in consumer equilibrium
A) MUa/TUa = MUb/TUb.
B) MUa/Pb = MUb/Pa.
C) MUa/Pa = MUb/Pb.
D) TUa/Pb = TUb/Pb.
Correct Answer:
Verified
Correct Answer:
Verified
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