Multiple Choice
53.If two goods are perfect substitutes,then
A) the marginal rate of substitution is constant.
B) the indifference curves are straight lines.
C) the indifference curves are "L-shaped."
D) both a) and b) are true.
Correct Answer:
Verified
Correct Answer:
Verified
Q3: Suppose that a consumer has the utility
Q16: Suppose that a consumer has the utility
Q17: Suppose the marginal rate of substitution of
Q19: If indifference curves are upward sloping,this violates
Q22: Consider the utility function U = 5x
Q24: Which of the following statements is false?<br>A)If
Q39: Marginal utility is<br>A)always increasing.<br>B)maximized when total utility
Q55: Suppose that a consumer has utility function
Q57: Two goods are perfect substitutes. The marginal
Q58: If a consumer would rather eat three