Multiple Choice
Alvin's preferences for good X and good Y are shown in the diagram below. Figure 3.2
-Refer to Figure 3.2. At any consumption bundle with the quantity of good X exceeding the quantity of good Y (that is, a bundle located below the 45 degree line, like point A, Alvin's marginal rate of substitution of good X for good Y is
A) diminishing.
B) positive.
C) constant and positive.
D) zero.
Correct Answer:

Verified
Correct Answer:
Verified
Q18: You view tea and scones as perfect
Q23: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB3095/.jpg" alt=" Figure 3.2.2 -Which
Q27: Monica consumes only goods A and B.
Q50: The assumption that preferences are complete:<br>A) means
Q59: Bill uses his entire budget to purchase
Q61: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB3095/.jpg" alt=" Figure 3.1.3 -If
Q131: Scenario 3.1:<br>Andy derives utility from two goods,
Q133: Evelyn Lips' preferences are depicted by the
Q135: Amy is currently spending her income to
Q140: An individual consumes only two goods, X