Suppose a taco costs $4 and a burrito costs $2. Moreover, this Mexican restaurant has a special deal. After you've bought 6 burritos, you can buy each extra burrito for $1.50. Assume that tacos are on the vertical axis and burritos on the horizontal axis. What is the marginal rate of transformation (MRT) when 8 burritos are purchased?
A) MRT = 0.375
B) MRT = 0.50
C) MRT = 2
D) MRT = 2.67
A
You might also like to view...
The federal government debt equals
A) the accumulation of past budget deficits. B) tax revenues minus government spending. C) the total value of U.S. Treasury bonds outstanding. D) government spending minus tax revenues.
A country's GNP is always larger than its GDP
Indicate whether the statement is true or false
For an oligopolistic firm, which of the following can be identified as a strategy?
A) Produce 10,000 units regardless of what the rivals do. B) Advertise if the rival advertises, do not advertise if the rival does not advertise. C) Raise the price if the rival raises the price, keep the current price if the rival lowers its price. D) All of above.
Disinflation is
A. a constant price level. B. negative inflation. C. a drop in the average level of prices. D. a reduction in the annual rate of inflation.