Tom Warren currently has 50 blueberries and 20 peanuts. His marginal rate of substitution of peanuts for blueberries, MRSpb equals 4, and his indifference curves are strictly convex.
Would Warren would be willing to trade at the rate of 3 of his blueberries in exchange for 1 more peanut?
MRSpb = 4 He would be willing to give up 4 blueberries for 1 peanut, at that point.
He would be willing to give up blueberries at a rate less than that, namely, 3-to-1.
Tom Warren currently has 50 blueberries and 20 peanuts. His marginal rate of substitution of peanuts for blueberries, MRSpb equals 4, and his indifference curves are strictly convex.
Would Warren would be willing to trade at the rate of 3 of his blueberries in exchange for 1 more peanut?
Tom Warren currently has 50 blueberries and 20 peanuts. His marginal rate of substitution of peanuts for blueberries, MRSpb equals 4, and his indifference curves are strictly convex.
Would Warren would be willing to trade at the rate of 3 of his blueberries in exchange for 1 more peanut?
MRSpb = 4 He would be willing to give up 4 blueberries for 1 peanut, at that point.
He would be willing to give up blueberries at a rate less than that, namely, 3-to-1.
| status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
|---|---|---|---|---|---|---|---|
| repetition number in this series | 0 | memorised on | scheduled repetition | ||||
| scheduled repetition interval | last repetition or drill |