The Magnitude of the Slope of an Indifference Curve Is

question 46

Multiple Choice

The magnitude of the slope of an indifference curve is:

• A) called the marginal rate of substitution.
• B) equal to the ratio of the total utility of the goods.
• C) always equal to the ratio of the prices of the goods.
• D) all of the above
• E) A and C only

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Definitions:

Equilibrium

A state in which the rates of the forward and reverse reactions are equal, leading to no net change in the concentration of reactants and products over time.

Iodoform Test

A chemical test for the presence of methyl ketones or secondary alcohols that can be oxidized to methyl ketones, indicated by the formation of a yellow precipitate.

4-heptanone

A seven-carbon ketone with the ketone group positioned on the fourth carbon of the chain, often used as a solvent or in organic synthesis.

Cyclohexanone

A six-carbon cyclic ketone with the molecular formula C6H10O, characterized by a ring structure with a ketone functional group.