At the optimal consumption bundle, the marginal rate of substitution of leisure for consumption is equal to
A) the real wage and the budget line is tangent to an indifference curve.
B) minus the real wage and the budget line is tangent to the indifference curve.
C) the real wage and the budget line intersects the indifference curve.
D) minus the real wage and the budget line intersects the indifference curve.
A
You might also like to view...
The economist that originated the idea that government can correct externalities through taxes and subsidization is:
A. John Nash. B. Arthur Cecil Pigou. C. Ronald Coase. D. Theodore Groves.
Having a competitive advantage emanates from
a. Increased price b. Decreased cost c. One or both of the above d. None of the above
Which of the following is a monetary policy action?
A. Deregulation. B. Changes in transfer payments. C. Open market operations. D. Changes in government spending.
Refer to the information provided in Figure 9.6 below to answer the question(s) that follow. 
Figure 9.6Refer to Figure 9.6. For this firm, diseconomies of scale set in after ________ units of output.
A. q1 B. q2 C. q3 D. q4