Solved

If X1 is $20 Bills and X2 is $100 Bills

Question 29

Multiple Choice

If x1 is $20 bills and x2 is $100 bills, then:


A) the utility function is x + 5z.
B) indifference curves have many kinks.
C) the marginal rate of substitution is 5.
D) the marginal rate of substitution is 1/5.

Correct Answer:

verifed

Verified

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

Related Questions

Q24: Cheryl is always willing to trade 3

Q25: A consumer's set of indifference curves provides:<br>A)a

Q26: The basic reason there are so many

Q27: Figure 2A<br><img src="https://d2lvgg3v3hfg70.cloudfront.net/TB3559/.jpg" alt=" Figure 2A

Q28: Define the Panglossian dilemma and illustrate it

Q30: Consider the following utility functions:<br>i)U(x, y)= xy<sup>1/2</sup><br>ii)U(x,

Q31: People smooth out consumption over time:<br>A)because they

Q32: If Henry decides to give up his

Q33: If Jane's utility function is given by

Q34: Employees demand more more for overtime work