Multiple Choice
How can we define the marginal rate of substitution on the graph of consumer choice model
A) It is the slope of a budget constraint.
B) It is the ratio between the slope of a budget constraint and an indifference curve.
C) It is the slope of an indifference curve.
D) It is the point at which the budget constraint is tangent to the indifference curve.
Correct Answer:
Verified
Correct Answer:
Verified
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