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Figure 3-1 Shows the Preferences of a Consumer Toward Reading

Question 14

Multiple Choice

Figure 3-1 shows the preferences of a consumer toward reading books and watching movies.Refer to Figure 3-1.Given that the price of a book is $4 and a movie ticket costs $5,the consumer's marginal rate of substitution in equilibrium equals _____. Figure 3-1 shows the preferences of a consumer toward reading books and watching movies.Refer to Figure 3-1.Given that the price of a book is $4 and a movie ticket costs $5,the consumer's marginal rate of substitution in equilibrium equals _____. A) 1 B) 5/4 C) 4/5 D) Cannot be determined without more information


A) 1
B) 5/4
C) 4/5
D) Cannot be determined without more information

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