Matthew and Susan are both optimising consumers in the markets for shirts and hats, where they pay

Question:

Matthew and Susan are both optimising consumers in the markets for shirts and hats, where they pay $100 for a shirt and $50 for a hat. Matthew buys 4 shirts and 16 hats, while Susan buys 6 shirts and 12 hats. From this information, we can infer that Matthew’s marginal rate of substitution is hats per shirt, while Susan’s is .

a 2, 1 b 2, 2 c 4, 1 d 4, 2

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Principles Of Microeconomics [Australia And New Zealand Edition]

ISBN: 9781337408066

6th Edition

Authors: Joshua Gans, Stephen King, Martin Byford, N. Gregory Mankiw

Question Posted: