The slope of an indifference curve
A) measures total utility.
B) is calculated by dividing the quantity of the good on the vertical axis by the quantity of the good on the horizontal axis.
C) measures the marginal rate of substitution between the two goods in question.
D) is calculated by dividing the price of good on the vertical axis by price of the good on the horizontal axis.
C
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Perhaps the biggest problem that is faced by those administering workfare programs is
A. that most of the people on welfare are not highly employable. B. too much money is allocated for education and training. C. that welfare recipients have no incentive to work. D. the states are not required to follow any guidelines in administering the program.
A recent study of the Canadian health care system estimates that a significant portion of the difference between health care spending in the U.S. and Canada is due to age differences between the two populations. Other reasons for lower health care spending in Canada include:
a. comprehensive first dollar coverage for all medically necessary health care services. b. better access to advanced medical imaging in Canada. c. is the geographic isolation of much of the Canadian population, which is a natural deterrent to accessing medical services. d. the monopsony power of the Canadian provincial health plans in negotiating fees with physicians' associations and other providers. e. significant excess capacity of inpatient beds in the Canadian hospital system.
By the start of the 21st century, the developed economies with the largest national debt relative to GDP were
a) US and Spain b) Italy and Japan c) France and Germany d) Australia and New Zealand e) Norway and Ireland
One In the News article in the text titled "The Real March Madness: Ticket Prices " described how professional scalpers use the Internet to sell hard-to-get tickets to concerts and sporting events. Apparently the initial price of the tickets being scalped was too
A. High for equilibrium, resulting in a surplus of tickets. B. Low for equilibrium, resulting in a shortage of tickets. C. Low for equilibrium, resulting in a surplus of tickets. D. High for equilibrium, resulting in a shortage of tickets.