Solved

In the Following Graph the Consumer's Income Is $1,200

Question 11

Multiple Choice

In the following graph the consumer's income is $1,200.At point B, In the following graph the consumer's income is $1,200.At point B,   A) the rate at which the consumer is willing to substitute X for Y is greater than it is at point A. B) the consumer is willing to give up more Y in order to gain an extra unit of X than at point A. C) the consumer will receive more Y for each unit of X exchanged in the market than at point A. D) both a and b E) all of the above


A) the rate at which the consumer is willing to substitute X for Y is greater than it is at point A.
B) the consumer is willing to give up more Y in order to gain an extra unit of X than at point A.
C) the consumer will receive more Y for each unit of X exchanged in the market than at point A.
D) both a and b
E) all of the above

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions