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Steve's utility function is U = BC, where B = veggie burgers per week and C = packs of cigarettes per week. Here, MUB=C and MUC = B. What is his marginal rate of substitution if veggie burgers are on the vertical axis and cigarettes are on the horizontal axis? O A. MRS = BC. OB. MRS-C/B. O C. MRS = B/C. OD. MRS= - BC. O E. MRS= -B/C. B, Veggie burgers per week 120 110- 100- 90- 80- 70- 60- 50- 40- 30- 20- 10- 0- 0 1800 1200 900 600 + 12 24 36 48 60 72 84 96 108 120 C, Packs of cigarettes per week

Steve's utility function is U = BC, where B = veggie burgers per week and C = packs of cigarettes per week. Here, MUB=C and MUC = B. What is his marginal rate of substitution if veggie burgers are on the vertical axis and cigarettes are on the horizontal axis? O A. MRS = BC. OB. MRS-C/B. O C. MRS = B/C. OD. MRS= - BC. O E. MRS= -B/C. B, Veggie burgers per week 120 110- 100- 90- 80- 70- 60- 50- 40- 30- 20- 10- 0- 0 1800 1200 900 600 + 12 24 36 48 60 72 84 96 108 120 C, Packs of cigarettes per week

Microeconomic Theory
Microeconomic Theory
12th Edition
ISBN:9781337517942
Author:NICHOLSON
Publisher:NICHOLSON
Chapter4: Utility Maximization And Choice
Section: Chapter Questions
Problem 4.11P
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Steve's utility function is U = BC, where B = veggie burgers per week and C = packs of cigarettes per week. Here, MUB = C and MUC = B. What is his marginal rate of substitution if veggie burgers are on the vertical axis and cigarettes are on the horizontal axis? OA. MRS= BC. O B. MRS - C/B. C. MRS= B/C. D. MRS= BC. - OE. MRS - B/C. OR. B, Veggie burgers per week 120 110- 100- 90- 80- 70- 60- 50- 40- 30- 20- 10- 0+ 0 12 24 36 48 60 72 84 96 C, Packs of cigarettes per week 1800 1200 900 600 108 120
Transcribed Image Text:Steve's utility function is U = BC, where B = veggie burgers per week and C = packs of cigarettes per week. Here, MUB = C and MUC = B. What is his marginal rate of substitution if veggie burgers are on the vertical axis and cigarettes are on the horizontal axis? OA. MRS= BC. O B. MRS - C/B. C. MRS= B/C. D. MRS= BC. - OE. MRS - B/C. OR. B, Veggie burgers per week 120 110- 100- 90- 80- 70- 60- 50- 40- 30- 20- 10- 0+ 0 12 24 36 48 60 72 84 96 C, Packs of cigarettes per week 1800 1200 900 600 108 120
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