The slope of the indifference curve for goods X and Y is called the marginal:
a. product rate.
b. rate of transformation.
c. rate of substitution.
d. rate of utility.
c
You might also like to view...
Consider a setting in which there is a positive externality, but no negative externality. The market outcome is __________________; government can bring about the ___________________ outcome if it sets a subsidy equal to the __________________
A) inefficient; efficient; MEB B) inefficient; efficient; MEC C) efficient; inefficient; MPC D) inefficient; efficient; MPB E) inefficient; efficient; MSB
Which is not an example of M1 money?
a. currency b. a mutual fund c. travelers' checks d. a checking account
If the number of unemployed equals 10,000, the number of employed equals 70,000, and the number not in the labor force is 20,000, the labor-force participation rate is
A. 60%. B. 70%. C. 80%. D. 90%.
A major reason that firms form a cartel is to:
A. Reduce the elasticity of demand for the product B. Enlarge the market share for each producer C. Minimize the costs of production D. Maximize joint profits