The Ratio of the Prices of Two Goods Is Equal

question 90

Multiple Choice

The ratio of the prices of two goods is equal to the ratio of the marginal utilities of the two goods at:

• A)the vertical intercept of the budget line.
• B)the optimal consumption bundle.
• C)the horizontal intercept of the budget line.
• D)the intersection of the budget line with the highest indifference curve.

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Definitions:

Amphitrite

In Greek mythology, the goddess of the sea and wife of Poseidon, often represented as the personification of the ocean and its calm and nurturing aspects.

Protestant Reforms

A religious movement in the 16th century that led to the creation of Protestantism, seeking to reform practices and beliefs of the Roman Catholic Church.

Saint Peter

A key figure in Christianity, traditionally considered one of Jesus Christ's Apostles and the first Bishop of Rome.

Cour Carrée

A large, square courtyard at the Louvre Museum in Paris, France, known for its historical significance and architectural beauty.