Multiple Choice
Consumer equilibrium exists when the
A) slope of the indifference curve is greater than the slope of the budget constraint.
B) consumer is on his highest indifference curve.
C) marginal rate of substitution equals the slope of the budget constraint.
D) slope of the indifference curve equals the slope of the budget constraint.
E) c and d
Correct Answer:
Verified
Correct Answer:
Verified
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