Which of the following statements about this graph of Emi's preferences are true? (Select all that apply) Food (lb/wk) 17-3 A(3, 17) 9 3 0 3 7 C (7.9) 16 D (16,3) - Shelter (sq yd/wk) O Emi gets diminishing marginal utility from shelter but not from food O At a bundle of 3 square yards of shelter and 17 pounds of food, Emi would be willing to give up 3 yards of shelter to get 1 pound of food O Emi would prefer a bundle of 8 square yards of shelter and 9 pounds of food to a bundle of 16 square yards of shelter and 3 pounds of food O Emi's MRS between shelter and food at a bundle of 7 square yards of shelter and 9 pounds of food is 1

Which of the following statements about this graph of Emi's preferences are true? (Select all that apply) Food (lb/wk) 17-3 A(3, 17) 9 3 0 3 7 C (7.9) 16 D (16,3) - Shelter (sq yd/wk) O Emi gets diminishing marginal utility from shelter but not from food O At a bundle of 3 square yards of shelter and 17 pounds of food, Emi would be willing to give up 3 yards of shelter to get 1 pound of food O Emi would prefer a bundle of 8 square yards of shelter and 9 pounds of food to a bundle of 16 square yards of shelter and 3 pounds of food O Emi's MRS between shelter and food at a bundle of 7 square yards of shelter and 9 pounds of food is 1

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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