The Marginal Rate of Substitution

question 17

Multiple Choice

The marginal rate of substitution

• A) can be computed by measuring the slope of the indifference curve.
• B) can be computed by measuring the curvature of the indifference curve.
• C) cannot be deduced from the properties of the indifference curve.
• D) can only be computed if we know the prices of all goods.
• E) can be deduced from the budget line.

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Definitions:

Dichotomous

Pertaining to something divided or separating into two distinct parts or categories.

Dichotomous

Referring to a division or contrast between two things that are or are represented as being opposed or entirely different.

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A paste or gel used with a toothbrush to clean and maintain the aesthetics and health of teeth.

New York City

A major city in the United States known for its significant cultural, financial, and media impact both nationally and internationally.