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Homework answers / question archive / A consumer is indifferent between the following combinations of apples and oranges (table 1)
A consumer is indifferent between the following combinations of apples and oranges (table 1).
Table 1. Bundles of apples and oranges, equally preferred by the consumer.
Apples 10 11 12 13 14 Oranges 15 11 8 5 3 |
If the consumer decides to purchase 12 apples and 8 oranges, what could be the ratio of the price of apples to the price of oranges?
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