The rate at which a consumer is willing to trade off one good for another is called the __________
Fill in the blank(s) with correct word
marginal rate of substitution
You might also like to view...
The value of output was $100 billion in Northland and $200 billion in Southland. The population of Northland was 50 million and the population of Southland was 30 million. There were 30 million employed workers in Northland and 20 million employed workers in Southland.
A. Southland; higher in Southland B. Southland; the same in both countries C. Northland; higher in Northland D. Northland; the same in both countries
The Robinson-Patman Act outlawed predatory pricing.
Answer the following statement true (T) or false (F)
Gross public debt minus all government interagency borrowing is
A. an entitlement. B. net public debt. C. the money supply. D. U.S. Treasury bonds.
A firm will break even when
A) P = ATC. B) P > ATC. C) P < AVC. D) P = AVC.