The marginal rate of substitution is
A. the slope of the budget line at all points.
B. found by adding additional units.
C. the change in the quantity of one good that just offsets a unit change in another good, keeping utility constant.
D. equal to unit changes in the quantities of both goods so that utility rises.
Answer: C
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In the United States, regulations on mobile sources
a. are imposed only at the state and local levels of government b. are outlined in Title II of the CAAA of 1990 c. are solely market-based d. impose controls on vehicles only, with no regulations on fuels
Recent declines in union membership are likely to cause the natural rate of unemployment to:
What will be an ideal response?
When an economist states that "price changes cause quantity changes ceteris paribus", she is stating that price changes cause quantity changes
A. only in theory. B. always. C. all else equal. D. only in efficient markets.
Microfinance refers to:
A. Small-size stock markets with very limited capitalization B. A system of providing credit to small-business owners C. Bond markets for governments of small nations D. Deposits in small banks in developing nations