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March 27, 2017

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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, what is the ratio of the marginal utility of beef to the marginal utility of pork?
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  • microeconomic - ,

    Both are substitude goods. But still if you want ratio, its 1.5/2

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