Multiple Choice
If Max's marginal rate of substitution for goods A and B is 3, then
A) the price of good A exceeds the price of good B.
B) the marginal utility of good A is 3 and the marginal utility of good B is 3.
C) the ratio of the total utilities of good A and good B is 3.
D) Max is willing to give up 3 units of good A for 1 unit of good B.
Correct Answer:
Verified
Correct Answer:
Verified
Q61: If the slope of the indifference curve
Q62: The equation for a budget line for
Q63: The slope of the budget line is
Q64: Exhibit 10A-1 Aggregate demand and supply
Q65: Exhibit 6A-6 Consumer equilibrium<br><br><img src="https://d2lvgg3v3hfg70.cloudfront.net/TBX8793/.jpg" alt="Exhibit 6A-6
Q67: Consumer equilibrium occurs where the budget line
Q68: Assuming peaches are a normal good and
Q69: Producer surplus is the:<br>A) amount by which
Q70: If Sam is willing to pay $50
Q71: Exhibit 3A-1 Comparison of Market Efficiency and