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Gillian is consuming her optimal consumption bundle of peanuts and raisins. The marginal utility associated with the last peanut she consumes is 4 utils, and
Gillian is consuming her optimal consumption bundle of peanuts and raisins. The marginal utility associated with the last peanut she consumes is utils, and the marginal utility associated with the last raisin is utils. What must be the relative price of peanuts in terms of raisins? a b The relative price is undefined. c d
Gillian is consuming her optimal consumption bundle of peanuts and raisins. The marginal utility associated with the last peanut she consumes is utils, and the marginal utility associated with the last raisin is utils. What must be the relative price of peanuts in terms of raisins?
a
b The relative price is undefined.
c
d
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