Multiple Choice
If your marginal rate of substitution between two goods diminishes continuously as you give up one good for the other, that means the
A) price per unit of one good declines when you buy it in larger and larger quantities.
B) two goods are perfect substitutes.
C) two goods are perfect complements.
D) two goods are neither perfect substitutes nor perfect complements.
Correct Answer:
Verified
Correct Answer:
Verified
Q118: In an indifference curve/budget line diagram, at
Q119: Gasoline is a normal good. If the
Q120: Some parents struggling with back-to-school buys. "A
Q121: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5274/.jpg" alt=" -Consider the change
Q122: An indifference curve will become _ the
Q124: The substitution effect<br>A) is always larger than
Q125: Your weekly budget for gasoline and movie
Q126: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5274/.jpg" alt=" -The above figure
Q127: Margo spends $108 a year on music
Q128: On a big weekend of college football