Multiple Choice
The rate at which a person is willing to give up a gallon of gasoline to get one more pound of coffee and remain on the same indifference curve is called his or her
A) relative cost of coffee in terms of gasoline.
B) indifference cost of coffee.
C) personal price of coffee.
D) marginal rate of substitution.
Correct Answer:
Verified
Correct Answer:
Verified
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