1. Answer the multiple-choice with the correct response. Select the correct answer.
2. In the space given for an explanation, you may: (a) choose a second-best answer and explain why it is second best. (b) choose one of the incorrect answers and rewrite the question so that it is correct.
on part 2 of each question is based on the quality of your answer.
You do not need to write a lot but it must be clear that you
understand why an answer is second best or why the change you make
to the question is effective. 
Homework Answers
Answer ) when the price price of a muffin rises to $1.50 and the price of coffee falls to $1.75 a cup , Jim does not continue to buy this combination because the marginal rate of substitution has changed as MRS earlier is 1/2 and now MRS is 1.5/1.75 which is not equal to 0.5 so price of a muffin has increased so he will buy less of it and price of a coffee has decreased so he will buy more of it and they will buy that combination where budget constraint equals dollar $50.
Hence option D is the correct answer.
Note : Please like my answer and comment for further clarification, it's urgent.
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1. Answer the multiple-choice with the correct response. Select
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2. In the space...
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