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Answer to Question #67973 in Microeconomics for usman

Question #67973
Suppose you consume three pounds of beef and five pounds of pork per month. The price of beef is $1.50 per pound, and pork is $2.00 per pound. Assuming you have studied economics and achieved consumer equilibrium, the ratio of marginal utility of beef to the marginal utility of pork

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Expert's answer
The ratio of marginal utility of beef to the marginal utility of pork = price of pork / price of beef = $2.00 / $1.50 = 1.33.

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usman
03.05.17, 18:35

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