You view tea and scones as perfect complements, and you pref…
You view tea and scones as perfect complements, and you prefer to consumer one cup of tea with one scone. Also, your indifference curves are plotted with tea on the vertical axis. If you presently have two cups of tea and one scone, what this the marginal rate of substitution (MRS) at this point?
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Professor Goodheart has two exams, exam 1 and exam 2. The exam 1 weights 30% and the exam 2 weights 70% of the final grades. Put the grades on the exam 1 on the horizontal axis and the grade on the exam w on the vertical axis. What kind of preference a student should have for these two grades?
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