The Rate at Which a Consumer Is ABLE to Substitute

question 55

Multiple Choice

The rate at which a consumer is ABLE to substitute one good for another is determined by

• A) the indifference map.
• B) the marginal rate of substitution.
• C) the consumer's income.
• D) the ratio of the prices of the goods.

---

Definitions:

Hyper-norms

Fundamental principles and values that are universally accepted across cultures and societies.

Human Dignity

The inherent worth of all individuals, deserving of respect and ethical treatment, regardless of circumstances or status.

Basic Rights

Fundamental entitlements believed to belong to every person, including rights to freedom, safety, privacy, and equality before the law.

Discrimination

Unfair or prejudicial treatment of individuals or groups based on characteristics such as race, gender, age, or sexual orientation.