Multiple Choice
If Smith will give up three units of Y to get one additional unit of X, then
A) he has transitive preferences.
B) his budget constraint is upward sloping.
C) his indifference curve is downward sloping.
D) the price of X must be three times as high as the price of Y.
E) none of the above
Correct Answer:
Verified
Correct Answer:
Verified
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