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Questions and Answers
What is Sam's marginal rate of substitution of cheese doodles for pretzels?
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?
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?
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?
If Sam is willing to give up 4 pretzels for an additional cheese doodle, how many pretzels will he have left?
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What is the total number of cheese doodles and pretzels allocated to Sam and Sally?
What is the total number of cheese doodles and pretzels allocated to Sam and Sally?
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