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:

Sodium Ethoxide

A strong base formed by the reaction of ethanol with sodium metal, commonly used in organic synthesis.

Transesterification

A chemical reaction in which an ester is transformed into a different ester through the exchange of alkyl groups, important in biodiesel production.

Ethyl Acetate

A volatile, colorless liquid used as a solvent and in the manufacture of products such as paints, coatings, and adhesives.

N-Propanol

Also known as 1-propanol, a primary alcohol with the formula CH3CH2CH2OH, utilized as a solvent and in the synthesis of other chemicals.