Short Answer
-The figure above gives a consumer's budget line and two indifference curves.
a.At which point is the marginal rate of substitution greater than the relative price?
b.At which point is the marginal rate of substitution less than the relative price?
c.Which point represents the consumer equilibrium?
Correct Answer:
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a.The marginal rate of substitution is g...View Answer
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Correct Answer:
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