If the MU/P Ratio for Two Goods Is the Same

question 1

Multiple Choice

If the MU/P ratio for two goods is the same, then

• A)the slope of the budget constraint between the two goods is equal to the marginal rate of substitution (MRS) between the two goods.
• B)the indifference curve between the two goods is concave to the origin.
• C)the prices of the two goods are the same.
• D)it follows that consumers prefer fewer goods to more goods.
• E)a and c

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Definitions:

Guilty

A legal status of a person who has been found responsible for committing a crime or offence by a judicial body.

Palliative Care

Specialized medical care focused on providing relief from the symptoms and stress of a serious illness.

Severe Pain

An intense and often debilitating level of physical discomfort, requiring medical evaluation and treatment.

Opioids

A class of drugs that include both prescription pain relievers and illegal substances, known for their pain-reducing and euphoric effects.