Multiple Choice
Mark's marginal utility of a third waffle is 10 units,and his marginal utility of a second slice of ham is 30 units.If Mark eats the third waffle,which of the following statements is true?
A) The price of a waffle is five times more than the price of a slice of ham.
B) The price of a waffle is less than one-fourth the price of a slice of ham.
C) The price of a waffle is less than one-third the price of a slice of ham.
D) The price of a waffle is four times more than the price of a slice of ham.
E) The price of a waffle is three times more than the price of a slice of ham.
Correct Answer:
Verified
Correct Answer:
Verified
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