The price of Y is $10.According to the above figure, the marginal rate of substitution of X for Y at point C is:

A. 0.3
B. 5
C. 0.5
D. 2
E. none of the above


Answer: E

Economics

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One might commit the fallacy of composition by concluding that

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In order to maximize its profit in the short run, an airline should offer an additional flight whenever

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As the price elasticity of supply approaches infinity, very small changes in price lead to

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Economics

Linda earned an income of $3,000 per month, which has now increased to $3,500 per month. She saves 10 percent and spends the remainder on food, lodging and other expenses. So far, she has managed to save $20,000. What is the change in her saving per month after the increase in income?

What will be an ideal response?

Economics