for two commodities A and B, MA and MB are the respective marginal utilities while…

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Economics WAEC 1997

for two commodities A and B, MA and MB are the respective marginal utilities while PA and PB are the respective prices. Marginal utilities of the commodities are maximized when

  • MA/PA = MB/PB checkmark
  • MA/PA > MB/PB
  • MA/PA < MB/PB
  • PA/MA < PB/MB
  • PA/MA > PB/MB

The correct answer is: A

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