QUESTION 5 In a farmer's market, the price of tomatoes is $5/lb and the price of cucumber is $6/lb. The marginal rate of substitution of tomatoes for cucumber MRS=2C/3T in Bob's concumption bundle. What is the equilibrium ratio of cucmber (C) and tomatoes (T) in the consumption bundle? O C/T=5/4 O C/T=2/3 O C/T=6/5 O C/T=3/2 QUESTION 6 In a farmer's market, the price of tomatoes is $5/lb and the price of cucumber is $6/lb. The marginal rate of substitution of tomatoes for cucumber MRS=2C/3T in Bob's concumption bundle. Bob uses $20 to purchase tomatoes and cucumber. He will buy. Ib tomatoes and -- Ib cucumber.
QUESTION 5 In a farmer's market, the price of tomatoes is $5/lb and the price of cucumber is $6/lb. The marginal rate of substitution of tomatoes for cucumber MRS=2C/3T in Bob's concumption bundle. What is the equilibrium ratio of cucmber (C) and tomatoes (T) in the consumption bundle? O C/T=5/4 O C/T=2/3 O C/T=6/5 O C/T=3/2 QUESTION 6 In a farmer's market, the price of tomatoes is $5/lb and the price of cucumber is $6/lb. The marginal rate of substitution of tomatoes for cucumber MRS=2C/3T in Bob's concumption bundle. Bob uses $20 to purchase tomatoes and cucumber. He will buy. Ib tomatoes and -- Ib cucumber.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:QUESTION 5
In a farmer's market, the price of tomatoes is $5/lb and the price of cucumber is $6/lb. The marginal rate of
substitution of tomatoes for cucumber MRS=2C/3T in Bob's concumption bundle. What is the equilibrium ratio of
cucmber (C) and tomatoes (T) in the consumption bundle?
C/T=5/4
C/T=2/3
C/T=6/5
C/T=3/2
QUESTION 6
In a farmer's market, the price of tomatoes is $5/lb and the price of cucumber is $6/lb. The marginal rate of
substitution of tomatoes for cucumber MRS=2C/3T in Bob's concumption bundle. Bob uses $20 to purchase
tomatoes and cucumber. He will buy_
Ib tomatoes and
Ib cucumber.
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