Economics: Marginal Rate of Substitution

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Questions and Answers

What is Sam's marginal rate of substitution of cheese doodles for pretzels?

  • 1
  • 5
  • 2 (correct)
  • 4

If Sam and Sally swap their allocations, what will be the ratio of cheese doodles to pretzels with Sally?

  • 2:1
  • 3:1
  • 1:2
  • 1:1 (correct)

What is the difference in the marginal rate of substitution between Sam and Sally?

  • 1 (correct)
  • 2
  • 5
  • 3

If Sam is willing to give up 4 pretzels for an additional cheese doodle, how many pretzels will he have left?

<p>8 (B)</p> Signup and view all the answers

What is the total number of cheese doodles and pretzels allocated to Sam and Sally?

<p>40 (B)</p> Signup and view all the answers

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