Multiple Choice
For an individual who consumes only two goods,x and y,the opportunity cost of consuming one more unit of x in terms of how much y must be given up is reflected by
A) the individual's marginal rate of substitution.
B) the market prices of x and y.
C) the slope of the individual's indifference curve.
D) none of these is correct.
Correct Answer:

Verified
Correct Answer:
Verified
Q3: Which of the following utility functions
Q4: Indifference curves<br>A)are non-intersecting.<br>B)are contour lines of a
Q4: refer to an individual whose utility function
Q5: If an individual's utility function is quasi-concave,his
Q6: Which of the following utility functions
Q7: If utility is given by U(x,y)= Min
Q10: If utility is given by
Q12: If utility is given by
Q13: refer to an individual whose utility function
Q21: If bundles of goods A and B