The Slope of an Indifference Curve Is Equal to the

question 69

Multiple Choice

The slope of an indifference curve is equal to the

• A)degree of responsiveness of demand to a change in price.
• B)price elasticity of demand for a good.
• C)rate of substitution between two goods.
• D)marginal utility of a good measured on the horizontal axis.
• E)marginal utility of a good measured on the vertical axis.

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Definitions:

Rank Order

Organizing or classifying a set of elements according to their importance, quality, or achievement in a sequential manner.

Rating Scale

A rating scale is a tool for assessing the magnitude or degree of a particular trait, behavior, or characteristic, typically through a numbered or graduated series.

Series Of Statements

A sequence or set of remarks, facts, or allegations presented in a logical order.

Event Sampling

A research method where the researcher records all occurrences of a specific event within a set period.